Which method provides a price expected for a property after suitable market exposure?

The correct choice, market value, refers to the likely price a property would sell for in a competitive and open market, where both buyers and sellers are acting in their own interests, and adequate time has been provided for the property to be marketed properly. Market value is influenced by various factors, including location, economic conditions, and the uniqueness of the property itself. When assessing market value, the property is viewed in the context of current market trends and comparable sales, allowing for an informed expectation of what a buyer might realistically pay.

In contrast, assessed value typically relates to the valuation of the property for tax purposes and might not reflect what the property would actually sell for in the market. Investment value represents the value of a property to a specific investor, based on their unique financial situation and investment criteria, which may differ significantly from the broader market value. Insured value refers to the amount a property is covered for under an insurance policy and may not correlate closely with its selling price or market conditions.