The Real Estate Market Analysis tools document is an in-depth listing of the major online real estate market analysis tools that are available for users to learn more about real estate data and information, which can be used in various ways when making decisions about residential real estate.
Now you can research you local market with powerful real estate market analysis tools. Use this real estate market analysis example to find properties that will be on the market soon. Find out more about real estate analysis that will help you decide which properties to buy or sell.
Heat Map Analysis
One of the best tools that are available to you and that can help you determine the best areas or neighborhoods within a market to invest in is the heat map tool.
The heat map is a very simple tool to use, and it is one of the easiest and quickest ways to gain insights into a market to determine the best areas within that market for investing.
Mashvisor’s Real Estate Market Analysis Tools: Heat Map
Mashvisor’s heat map tool allows you to get a visual indication of a market’s performance based on a number of different metrics or criteria:
- Property’s listing price
- Airbnb cash on cash return
- Traditional cash on cash return
- Airbnb cap rate
- Traditional cap rate
- Airbnb occupancy rate
Using these filters will activate a colored layer on the map which shows you the average performance, or how hot/cold each area is, based on the metric that you have selected.
This way, you can easily determine the best areas within a larger market to start your search.
STATISTICAL ATLAS
This tool can be used to verify a wide number of Demographics, Income and Education statistics of specific areas for given markets. This can be especially useful for understanding household incomes and if projected property rents are reasonable in comparison.
Reonomy
The Reonomy platform contains the largest commercial real estate owner database in the country. Our platform allows users to efficiently prospect and build leads at scale.
Reonomy offers a broad spectrum of tools to help CRE professionals identify LLCs and privately-owned properties not currently on the market. The platform provides property ownership details, such as phone numbers, emails, and mailing addresses.
High-quality contact information is the foundation of any marketing campaign. Reonomy makes it easy to mine this information to create a dynamic marketing plan.
The true power of the Reonomy platform lies in the filters that can be used to navigate the database.
These filters ensure that you can find leads specific to your focus. Here’s an example of the filters you can use to build a custom lead list on Reonomy:
- Asset Type: Multi-Family
- Location: Within a 20-mile radius of the last property I sold
- Sales: Haven’t sold in the last 10 years
- Last sold for over $1,000,000
With the Reonomy platform, this report would take less than five minutes to run. Then, the report can be exported into an Excel file with contact details of owners highly relevant to your business.
It would take hours to find such a qualified lead list on other platforms.
Property Comps
Property comps refer to comparing a number of investment properties to identify the ones that have the highest potential for returns based on their projected data.
This tool allows you to set a criteria for the investment properties that you’re interested in, such as the number of bedrooms/bathrooms, the listing price, the rental rates, or a number of other different stats.
Typically, this is something that you would have to do by hand; to list all the properties that meet your criteria, and to compare them one by one based on the different metrics and stats until you’ve found the one/s that are most suitable for you.
Using Mashvisor’s Export feature, you can do this faster and far more easily by downloading a list of all the properties that meet your search criteria in an easy-to-read Excel sheet format, which you can then use to sort the properties based on the metrics or stats that you are most concerned with in order to identify the best property to invest in.
CITY-DATA
Similar to the Statistical Atlas, this online resource gathers information from multiple private and government sources to provide detailed informative profiles on every city in the United States. Enter in the City of the desired real estate investment and get a quick overview of categories such as population, crime, ethnic makeup, etc.
Google Advanced Search
Google Advanced Search allows users to build a list of recently-expired listings. For sales brokers, expired listings represent an opportunity to pick up the listing of a motivated seller who hasn’t yet sold.
To perform a Google Advanced Search, identify a listings platform, and search that platform for expired listings. Using these results, you can see which properties haven’t sold, and use that information to contact the property owners.
Neighborhood Comps
Similar to property comps, neighborhood comps allow you to compare a number of neighborhoods to identify the one/s that have the highest potential when it comes to real estate investing.
Using Mashvisor’s real estate market analysis tools, you can easily gain insights on each neighborhood to compare them and identify the one that has the highest potential.
Mashvisor provides you with each neighborhood’s averages for stats and metrics such as the median property price, the median rental income, the average cap rates and cash on cash returns, the average occupancy rate, and even the optimal rental strategy to use in each neighborhood.
BUREAU OF LABOR STATISTICS
An official website of the United States government, this site provides information on a wide range of topcis to include Inflation, employment wages, unemployment rates and even consumer expenditures.
LinkedIn Sales Navigator
LinkedIn Sales Navigator has a range of tools for all types of business marketing. A great place to start is the lead builder tool, which allows users to search using a range of filters including job title and geography. From there, you can save individual leads or save entire search results listings, which can help you target desired clients with customized marketing campaigns.
Historical Data
Another aspect that you should definitely consider when conducting a real estate market analysis is historical data.
Looking at an investment property’s or a neighborhood’s historical data can help you analyze that property or that neighborhood and get an idea of where it is headed, how its performance has improved or worsened in the past, and other insights that can be invaluable for your investment.
Mashvisor’s platform will provide you with the historical data for each property and each neighborhood, which can give you a quick idea of whether it is a good idea, a bad idea, or a brilliant idea to invest in a property or neighborhood based on its historical data and performance.
FEMA FLOOD MAP
The official public source for flood hazard information, this tool allows one to enter in an address or location by longitute/latitude and determine if that property or real estate is in a flood zone. This can be especially useful to know before you buy.
StumbleUpon
StumbleUpon is a discovery engine that finds and recommends web content to its users. Readers discover new content based on their listed interests.
For commercial real estate professionals, StumbleUpon is a great way to build an audience and create targeted content. While there is not a CRE-specific interest on the platform, there is a real estate section, where CRE professionals can load content. In addition, there are several other categories where commercial real estate information would be applicable.
While the basic version is free, there is also a paid option to increase the size of readership.
Conclusion:
Now you can do your own real estate market analysis with the latest free real estate market analysis tools. These effective free areas analysis tools help you understand the market value of properties in your area, learn about the most recent home sales, and how to use this information to make more informed real estate transaction decisions.