When is it appropriate to average to arrive at the final value estimate?

Averaging to arrive at a final value estimate is generally not considered appropriate. Each property appraisal situation can vary greatly based on unique characteristics, local market conditions, and specific methodologies used in the appraisal process.

The practice of averaging values can oversimplify and mask important nuances that should be considered. When different valuation methods yield different results, it is crucial to analyze each method in detail rather than simply calculating an average. This can lead to a more accurate and justifiable final value that reflects the property's true worth, rather than a misleading figure that may not accurately represent the market conditions or the property's intrinsic characteristics.

Additionally, appraisers are trained to approach each appraisal with due diligence and to rely on their expertise and judgment to weigh different factors rather than just averaging numbers. This is why it is deemed inappropriate to average values in the appraisal process.