In my previous article, "During which month should I list my home?", I showed the average days from listing to contract, depending upon which month an SFR property was originally listed.
One of my clients is selling 20 acres of vacant land, and I frequently update my clients on the comparative market activity. Here is a sample of what I provide my clients in such comp packets -- a map showing (in this case) active vacant land listings at their current prices, between 15 and 25 acres (and priced between $150k and $350k):
This easily shows listing and buying clients where the parcels are, and in what price ranges. But it is also important to consider the days-on-market (DOM) unsold properties have been (under their present listings) actively seeking buyers.
This does NOT denote the potential that any such listings have had prior sales efforts, with various outcomes (see my final chart below for something you won't find elsewhere). When clients ask about past sales of such size/price ranges of vacant parcels, I produce a historical map of activity -- in this case, the past 2 years of such sales:
But how long did it take for those sales to occur (DOM)?
And further, what was the percentage of sale price to original list price?
Yes, I also provide integrated maps which have multiple pie wedge indications, showcasing simultaneously the present list price, DOM and % of original list price -- all in the same dot.
But for real insights and trend data, what was the historical activity of those sold properties, over the past 20 years?
Orange polygons represent listings which ended in overt cancellation. Red polygons represent listings which ended in expiration. Greens are the successful sales, whereas black panes indicate the contract dates. As time moves from the past (z-axis indicated by 2-digit years from '96 to '18) to the present, the decreasing diagonal tops of polygons indicate price drops during individual efforts.
A picture says a thousand words...what market trend words are you hearing? When considering buying or selling real estate, ask your prospective Realtor® to prove their comprehensive awareness of market dynamics.
I think that the underlying data research, analyses and the above resulting depictions will provide valuable insights and wisdom to property buyers and sellers alike.
Please contact me for more information about licensing my charts for your use, or to discuss my custom data research, analysis and map / graphics design services personalized to your specific needs.