Valuation
Market Value
A concise definition for the California Real Estate Exam study guide.
Definition
The most probable price a property would sell for in a competitive, open market with informed buyers and sellers acting without duress, given reasonable time on market.
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 6: Valuation & Appraisal →