Tuesday, October 15, 2013

Real Estate Statistics - Residential Trends in Viera, Florida in 2013.

I have never been a real fan of statistics.  I learned a long time ago to never take statistics at face value.

In the real estate business we often use statistics to give a "state of the market" presentation to prospective buyers and sellers.  Some of the statistics used include:
  • Sale to List Ratio
  • Average Days on the Market/Cumulative Days on the Market
  • Median List Price/Average List Price
  • Median Selling Price/Average Selling Price
  • Absorption Rate  
Very often the data is used to provide a picture of where the market is today and the trends by showing the current month vs. the same month last year (or five years).   Make sure you understand the data's source. 

For example, below is a depiction of residential trends in Viera, Florida (specifically the area west of I-95) through September 2013 as reported in the Brevard MLS system on October 15, 2013..

Statistics are meant to either impress, distress or inform.   If you have questions regarding residential real estate in Brevard County, Florida, feel free to ask me.  Considering selling?  Ask about a free market analysis.

Gary L. Waters, PLLC is a Florida licensed real estate broker-associate working with buyers and sellers in Brevard County, Florida.