What is the main difference between single property appraisal and mass appraisal?

The main difference highlighted in the selected answer is that mass appraisal relies on more statistical data than single property appraisal. In mass appraisal, assessors evaluate a group of properties collectively, utilizing a standardized approach that often incorporates statistical methods and models to ensure consistency and fairness in property valuation across a broader range of properties. This approach is especially useful for tax assessment purposes, where numerous properties need to be evaluated quickly and efficiently.

In contrast, single property appraisal focuses on a specific property and involves a more detailed, individual analysis. It typically examines the unique characteristics of that property, including its condition, location, and comparable sales data to estimate its value accurately.

The other options do not capture this distinction as effectively. For instance, while time of sale may be relevant to single property appraisals, it does not constitute a defining characteristic between the two methods. The size of the sales pool for single property appraisal does not necessarily exceed that of mass appraisal, as mass appraisal pulls from a wider array of properties in its statistical analysis. Additionally, mass appraisals are designed to minimize subjectivity, emphasizing standardized measures rather than subjective assessments. This reinforces the idea that the use of statistical data is a core aspect of mass appraisal, setting it apart from the more individualized approach of