GMAT Critical Reasoning (CR) | Re: The total market value of real estate in Altonville has

Hi Experts /chetan2u /daagh /aditya8062 /carcass ,

Can you please explain me the above scenario in layman language. At first I thought I should ignore this but this question is completely based on BASIC concept of real state, so I can't ignore it.

If a person don't know the concept of supply, demand and price relation. He/she can't do any question related to market.
Similarly, this concept is really important for me to understand. What is market value. accessed value etc etc.

I googled it