Defining quadrants on Pricing Insights
When using Pricing Insights, you may have noticed that the chart area is segmented into 4 distinct quadrants, defined by the black intersecting lines. The horizontal black line is set at the median sold price of the market defined by the filters. The vertical black line is set at the median sold dollar per square foot of that same market. These values are shown in the boxes to the right of the chart. The lines intersect in the middle of the market. The individual dots each represent a single listing, and you can click on any one of them to expose the address and other listing info below the chart. The dots congregating around the middle of the market should align to a typical, or average property in that area.
Each quadrant, then, represents a different segment of the market. The bottom left "Low Priced Value" quadrant is composed of listings that are both low in price and low in dollar per square foot. You should expect to find properties here that could be considered fixer-uppers here. You'll also find smaller, or more entry level homes in this quadrant. If your buyers are interested in a home that has more appreciation potential, this is a great quadrant to point them towards. If you're really lucky, you may find homes that are under-priced for quick sale here, too!
Moving to the bottom right "High Priced Value" quadrant, these are listings that are higher in price, but lower in dollar per square foot. Maybe the property is a little older and needs a refresh to command a higher $/sqft. You can also find larger properties in this quadrant, since they often sell at a slightly lower $/sqft, even while getting a higher price overall. Properties in this quadrant are also good candidates for increased appreciation.
Crossing to the upper left "Low Priced Luxury" quadrant are the listings that are lower in price but with a higher dollar per square foot. Properties here tend to be older or smaller, but newly renovated or updated. There may not be as much room for purposeful growth here, but there properties will still grow with the market as a whole.
Finally, the top right "High Priced Luxury" quadrant is the high price, high dollar per square foot listings. As you move closer to the top corner of the chart, these properties should be at the top of the luxury scale, allowing them to ask top dollar. We often see the model homes from new developments appearing in this quadrant. Every listing up here should make you "ooh" and "aah".
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