Appraiser's Absolute value vs. Price per square foot?

[Eli M.]

Dear BP family,

From your personal experience (or profound knowledge even better:)- when assessing/appraising the property, the appraisers do it based on :

1) Average Absolute value of similar-size houses in the 0.3 miles radius?

OR

2) Average Price per sq. foot of similar size houses in the 0.3 miles radius (multiplied then by the actual square footage of the assessed property ?

Of course- assuming all the rest futures are the same (HVAC/rehab standard, garage, etc)