What is the estimated value derived through comparison with recent comparable sales and market conditions called?

The estimated value derived through comparison with recent comparable sales and market conditions is referred to as the Appraised Value. This process involves a professional appraiser reviewing recent sales data of similar properties in the area to determine a property’s worth. The appraiser takes into account various factors such as location, features, condition, and market dynamics, ensuring that the estimated value reflects the property's true market potential based on current trends.

While Market Value can seem similar, it generally refers to the price a property would sell for under normal market conditions, which might not always be assessed through a formal appraisal process. Similarly, Comparative Analysis is a term that encompasses the process used to derive value through comparisons but does not specify the formal valuation aspect that the Appraised Value signifies. Valuation Assessment could imply a broader evaluation context but lacks the specific formal approach that an appraisal entails. Thus, in a mortgage context, the Appraised Value is the term that best captures the process described in the question.