I really want to know how to perform market analysis?

I really want to know how to perform market analysis?

Member since 2020 · 295 posts · 56 votes

I really want to know how to analyze a market or neighbourhood in which I'm investing, I'v talked with a lot of people about how to analyze a housing market but I still didn't really understand so I thought this place would be the best option to find. I just want to know how to analyze like how to find out if the demand is high, how do you know if homes are selling fast, how to find out if demand for property in any area rising or falling or how to find out if a neighbourhood is hot or not, I've discussed with a lot of people and they recommend me to use city-data.com which is an excellent website to know about the market but even in that website I don't know what to look for like if the population is 20000 in a city is it good or not or what it should be or what should I type in google to know about a specific market or place?

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  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    6y

    Get the MLS and study solds, actives and pendings over a 5 year period. Pay attention to price and condition. That is pretty much all you need to see if it fits your goals and find a deal. Do thousands of comps.

  • Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Ian Walsh:

    Get the MLS and study solds, actives and pendings over a 5 year period. Pay attention to price and condition. That is pretty much all you need to see if it fits your goals and find a deal. Do thousands of comps.

     Thanks a lot man! appreciate it

  • Investor · Amityville, NY · Member since 2020 · 24 posts · 13 votes
    6y

    What is the best way for a non-realtor to get the most info from MLS?

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