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Updated almost 5 years ago on . Most recent reply

User Stats

7
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2
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Aneal Khimani
2
Votes |
7
Posts

Understanding my market

Aneal Khimani
Posted

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.

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