Many real estate market reports are meaningless, but we’ve fixed this for the Texas coast!
Housing prices, when measured as broadly as a city area, are meaningless, drilling deeper into the raw data reveals housing markets that are deeply bifurcated.
National, state, and city real estate price reports and trends are imaginary numbers, as property prices in various parts of town, neighborhoods, and property types are drastically different, for example the median price in an older but upscale part of town may be +$1M while a newer entry level area is +$199k. Putting those two and many others together produces a fictitious median price and trends that have little meaning to individuals.
Looking at sales and history that combine these numbers doesn’t give you an analysis that’s meaningful to your decision, and because of this, buyers only get accurate numbers for a few recently comparable sales for a given property, moreover, consider the following.
Seasonality in prices for beachfront properties can obscure month-over-month changes in several ways
- Firstly, the fluctuation of demand for beachfront properties based on the time of year can make it difficult to accurately compare prices from one month to the next. During the peak season, when demand is high, prices may be significantly higher than during the off-peak season, when demand is lower. This can lead to significant swings in prices from one month to the next, making it difficult to discern underlying trends.
- Additionally, the specific timing and duration of the peak season for beachfront properties can vary from year to year, which can further obscure month-over-month changes. For example, if the peak season is longer or shorter than in previous years, this can cause prices to vary from one month to the next.
It is important to take seasonality into account when analyzing the prices of beachfront properties and to consider the broader market trends and economic factors that may be influencing prices over time. An analysis of long-term data, such as year-over-year changes, may provide a clearer picture of the overall trends in the market.
These can hardly offer the bigger picture you’re hoping to see and compare to make better decisions based on trends, real estate cycles, and other criteria that can make or break your financial situation.
We’re finally offering accurate analysis across the entire Texas coast you, and others, like the local government, need for better decision making.
Check out our marketing analysis for the Texas coast and see for yourself!