Definition
The most probable price a property should bring in a competitive and open market under fair sale conditions.
Example
Market value assumes a willing buyer, a willing seller, and adequate exposure to the market.
Related terms
Frequently asked questions
What does Market Value mean in real estate?
The most probable price a property should bring in a competitive and open market under fair sale conditions.
How is Market Value used in practice?
Market value assumes a willing buyer, a willing seller, and adequate exposure to the market.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.