condition

The condition of a property is a general indicator of its state of repair, freshness, and up-to-dateness as determined by widespread market expectations for that type of property at the time assigned.

Condition does not refer to the actual quality of a space, although in certain markets various inferences about quality may be made from this.

The assessment is relative to expectations for the property's use and the time in question. New and renovated condition distinguish recent construction from significant renewal of older space.