Final answer:
The indicated value of a similar property after a 2.5% price increase over three months is $287,000, calculated from the original comparable property value of $280,000.
Step-by-step explanation:
The student is asking for the indicated value of a similar property based on the price increase over a certain time period. To find the indicated value, one would calculate the price increase first. Assuming that the 5% increase in housing prices happened uniformly over the past six months, we would apply a 2.5% increase for three months to find the current value of a property similar to the one that sold for $280,000. The calculation would be: $280,000 + ($280,000 × 0.025) = $280,000 + $7,000 = $287,000. Therefore, the indicated value of a similar property is $287,000.