Question

According to a broker's comparative market analysis (CMA), a property is worth $225,000. The homeowner bought the property for $190,000 and added $50,000 in improvements, for a total of $240,000. The property sold for $222,500. Which amount represents the property's market price?

Answer 1

$225,000.-

Step-by-step explanation:

A Market price is the real price at wich a service or asset can be sold in an open market.

Fullfils an informative function. It is a good indicator of excess supply or demand