In the direct sales comparison approach to land valuation, adjustments are made to which type of property?

In the direct sales comparison approach to land valuation, the focus is on using comparable properties that have sold recently to estimate the value of the subject property. The primary adjustments made in this approach pertain to the comparable properties to ensure they align as closely as possible with the subject property.

These adjustments can account for differences in characteristics such as location, size, shape, zoning, and any other relevant factors that could affect the value. By adjusting the sale prices of the comparable properties, an appraiser can more accurately reflect what the subject property would likely sell for in the current market conditions.

While it might seem that adjustments could also be necessary for the subject property in some contexts, in the framework of the direct sales comparison approach, the adjustments are focused exclusively on the comparable properties to ensure a valid comparison can be made. This methodology helps in deriving a reliable estimate of value based on the actual market data of similar properties.