Create a Luxury Market Seller analysis
Sellers in the High End and Luxury markets can be demanding, and stats can help you communicate with them! Sellers in general want to get the highest price in the shortest amount of time, but higher priced home take longer to sell. To illustrate this, we recommend using the Price Distribution charts from Market Insights.
While Days on Market was an average of 30 days, you can see in the highest price band, it was over 80 days! This is an expectation that needs to be set at the beginning of the relationship with your client.
Similarly, the Absorption Rate/Months Supply of Inventory is close to 4 months in the highest price range. So not only is it taking longer to sell those houses, but there is more supply than demand as compared to the overall market. The >$1MM homes in this example, are more in a buyers market than the rest of this region.
How to create a First Time Home Buyer analysis
When working with first time home buyers, they have a lot of questions, and usually don't even know what they should be asking beyond "Is now a good time to buy?" For those clients, it's important to keep it simple while still giving them the ...
Using Pricing Insights
Learn how to use the Pricing Insights dashboard to create a visual price analysis of an area. This tool will help you narrow in on the right price for new listings quicker based on the overall market, and show your buyers where the properties they're ...
How to create a Price Distribution analysis
Learn how to create a distribution analysis based on Price Ranges.
Is it a Buyer's or a Seller's market?
This is a common question, and one that can definitely be answered with statistics. To quickly get to an answer, we recommend using the Market Review dashboard, because it gives you a single page view of several metrics at once, with a short history ...
The Difference between Year to Date and Annualized metrics
In Market Insights, choosing the 'By Year' time period gives you the additional option of choosing 'Year to Date' or 'Annualized' as the aggregation against which to compare the current year results. Note that the current year on the chart AND the ...