similar sales

similar sales
In law of evidence, when market value is in issue, sales of similar property is admissible to prove value. There is no specific rule to determine the degree of similarity necessary for evidence of a sale of other property to be admissible in a condemnation action.
"Similar" does not mean "identical," and other sales need be only sufficiently similar in character and locality to provide the jury some reasonable basis for comparison. Lake County Forest Preserve Dist. v. Reliance Standard Life Ins. Co., 29 Ill.App.3d 145, 329 N.E.2d 344, 349.
"Similarity" necessary to permit evidence of sale of one property to establish market value of another does not mean identical, but does require reasonable resemblance taking into consideration such factors as location, size and sale price; conditions surrounding sale, such as date and character of sale; business and residential advantages or disadvantages; and unimproved, improved or developed nature of land. Arkansas State Highway Commission v. Witkowski, 236 Ark. 66, 364 S.W.2d 309, 311

Black's law dictionary. . 1990.

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