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Updated almost 5 years ago on . Most recent reply
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Understanding my market
Hello all,
I'm curious about the websites/methods you all use to analyze a home market? I've been reading a book and the author outlines several key metrics to study in order to know your market:
1. Market Inventory (How many houses are officially listed for sale, and how long would it take to sell these at current pace. Basically is there a 6 month supply and is it a seller or buyer market)
2. Average days on market for listed houses in a zip code (area, neighborhood etc)
3. Media Sale Price (again, by zip, neighborhood, area etc.)
4. Foreclosure rate (# of foreclosures/# standing houses)
He suggested looking into a local Board of Realtors, but my cursory research has shown me that I have to be a Licensed Realtor to access that data. Is there anywhere else I can see these numbers? What do you all use to analyze a market?
Thanks,
Aneal K.