What type of data is essential for capturing local market influences?

The correct answer highlights the importance of quantitative data in assessing local market influences. Quantitative data refers to numerical information that can be measured and analyzed statistically. This type of data is crucial for understanding real estate trends, property values, and demographic changes within a given market. For instance, quantitative data enables assessors to interpret trends based on sales prices, rental rates, or population growth in specific areas, providing a clear picture of market dynamics.

Incorporating quantitative data allows for objective analysis, which is essential for local market assessments. This data can encompass various metrics, including average property prices, number of transactions, and housing supply and demand, all of which are vital for understanding how local market influences shape property valuation.

While qualitative analysis, comparative information, and historical records can provide valuable insights, they often lack the measurable aspect that quantitative data provides, making the latter indispensable for accurately capturing and assessing local market influences.