When people discover I’m a REALTOR® the first question is usually, “How is the Market?” and my answer is always “Depends on where you live”.
Real Estate is local. Property values are determined not only by the house’s attributes but most importantly its location. Since I work in Real Estate daily I can make and predict fairly closely where the “trends” are moving. You know when the market is picking up and when it is softening. The interesting detail is that we know this before we get the data which is generated by the MLS and provided to us every month. Unfortunately this information is always at least a month (or more) old. So even though we see the trends we don’t have the data to support our observations.
So back last November I started to assemble a series of indicators that show trends in the local Real Estate Market, week by week, for the 4 zip codes where I work the most.
Real Estate is an asset, like stocks and bonds, though with less dramatic price swings. There are always ups and downs. I feel I owe this information to my clients. I can now easily show them in real numbers that support a trend, when before it was more of a “sense” of a trend,
So when the question comes, “Is it better to put the house on the market now?”, or, “should we wait a couple of months?” I now have current data to support my answer.
Although I have stronger data from the markets I serve the most, I can apply the same analysis to surrounding zip codes as well. Check out the video explaining the charts
If you are interested in this information, please call me at 703 472 5439 or email me at firstname.lastname@example.org
This information was taken straight from the local MLS or provided by MRIS