POTW | Phillips NBHD
By Erin Milburn on Monday, August 11th, 2014
When assessing market health, it’s important to dig beyond macro-level supply and demand trends. It’s crucial to look at market share. What is market share? It’s perhaps best illustrated by example. If 100,000 cell phones were sold today, and 40,000 of them were Apple iPhones, then Apple has 40% market share in the cell phone market.
Similarly, it’s useful to track the changing market share of foreclosures, single-family homes, new construction properties and so on. This can provide an additional layer of nuance and offer useful insights regardless of whether you’re working with a buyer or a seller. Infosparks also allows users to compare up to four different pre-defined or custom price ranges within an area or across areas.
Looking at pending sales broken down into below $99,999 and above $100,000, these two price tiers have been chasing each other since mid-2008. Recently, however, the race seems to be coming to an end with $100,000 and up emerging victorious. It’s clear to see how the two trendlines diverge beginning at the start of 2014. This is a good thing, since it suggests that more and more homes listed above $100,000 are going under contract. It’s also encouraging to see the $99,999 and below price point (dominated by distressed properties) fade away quietly into the night—like zubaz pants and fruit-striped gum.
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