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Updated over 6 years ago on . Most recent reply
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Market Knowledge - How to evaluate a market
Hello! I am so stuck on which websites I should use to fins my market research. I have used so many sites and still do not know which one is the most accurate for each metric I need. I would like this information for specific zip codes versus the state or the city. Please help me and tell me which website you use for each 1) Median Sales price for specific amount of bedrooms/bathrooms (ie: median price of 3bd/2ba) 2)rental ranges 3)economic development - is it growing, declining, or stable? 4)Interest rates 5)market demand - buyer, seller, flat? 6) average age 7) avg DOM. Thanks in advance. It is overwhelming being a newbie. Any advice anyone can give about studying a specific zip code will be so appreciated! THANK YOU!
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@Bria Johnson you can definitely find a lot of this information online. But my feeling is that online research is just step one. Step two would be to discuss these topics with a reputable local real estate broker. There's so much information/misinformation online that confirming your initial conclusions with someone that has first-hand market experience and knowledge is critical. Both sources will be important as you prepare to jump in. Best of luck to you!
Chris