Final answer:
The new value of the property is calculated by first finding 5% of the original price of $250,000, which is $12,500, and then adding this to the original price to get a new value of $262,500.
Step-by-step explanation:
The question involves calculating the new value of a property after a percentage increase in price over a specific period.
A property that sold for $250,000 six months ago has increased in price by 5%. To find the new value of the property, we calculate 5% of $250,000 and then add it to the original price:
5% of $250,000 = 0.05 × $250,000 = $12,500.
Therefore, the new value of the property = $250,000 + $12,500 = $262,500.
Using this information, a broker conducting a competitive market analysis would likely value a similar house at $262,500.