Finding data for a target market

5 Replies

Hey guys, I am trying to narrow down a target market to invest in and I am running into issues finding the data I am looking for. I am isolating markets by counties and I am looking for DOM, average/median sale price, and the average percent of appreciation. The sale price and % appreciation have been easy enough to find, however DOM has been a struggle. Is there a single website you use to pool data from? 

Get access to the MLS.

Also, there are two different DOM, and they are very much different because their uses are very different.

1 - DOM for finding out how long a property has been for sale because you are buying.

2 - DOM for finding out how long it takes a property, any property, to sell based on its Sold Comp Price.

Originally posted by @Brandon Henderson :
@Joe Villeneuve thanks for the input. If I interpreted your description of DOM correctly, you could find the 2nd definition of DOM by taking any given property; find the comps; then take the average DOM of the comps?

 Nope.  That number would be misleading since it would include info that has nothing to do with what I'm looking for.

The DOM you are looking for, tells you how long it takes to sell a property at the "strike price"...which is the "comp price".  This means it also tells you the optimum price to sell your property at, based on how long it will/should take to sell it.

Originally posted by @Brandon Henderson :
@Joe Villeneuve That’s pretty interesting, I haven’t thought about the correlation between DOM and Price. What information would you need to come up with this DOM? Also once you find the DOM how do you determine a price for the property?

 First you find the micro-market, then record all the sold comps that are within 10% of eachother.

Next, take each comps sold date and work backwards to the date the listing price was changed to the price it sold at.  Count the days.

Here's one more very important thing though.  The date of sale is not the date that says "sold".  That's the date they closed.  The date the property was removed from listing is the date it sold.  That was the date both parties agreed on the price.