Analysing the real estate market is never easy. Actual sales data takes months to process through solicitors and government databases before its available for real estate agents, jounalists or market commentators to analyse. This is why when you property statistics in the newspaper they are always for earlier in the year.

Nerang First National has for a while now tracked the total number of properties for sale and properties marked “under contract” on the major real estate portals.  Agents are required by law and by the terms and agreements with the portals themselves to have this informaiton accurate. Advertising a property for sale that they do not have an authority on can bring heavy fines and failing to remove properties under contract can see you getting banned from the portals for repeated breaches.

This information is the best indicator of just what is happening in the live in the marketplace. One of the best ways to communicate changing data over time is using a motion graph. The motion graph turns what was once a static graph into an animation as it plays through time so you can see the changes as they happened.

One of the best introductions to Motion Graphs is through Hans Rosling’s statistics presentation to the TED conference.  Hans created the Trendalyzer program which allows pages and pages of data to be easily understood by everybody.  To get a good understanding of how the graphs work check this video out. It will truly blow your mind and show you how the motion graph helps anybody understand complex data.

So using the same type of Motion Graphs we are able to have a look at the local real estate market  for Nerang, Carrara and Highland Park over the past 12 months and some amazing trends stand out. The graph tracks the available property for sale and property under contract in the suburbs of Nerang, Carrara and Highland Park from the beginning of the financial year to now.

Nerang Property Market - Financial Year 2008/2009 Click to Access the Motion Graph

As you watch the graph you will notice the suburb indicators change colour.  This colour is based on the Under Contract rate which is the percentage of properties Under Contract in relation to all properties. In the first 6 months you will notice a lot of properties on the market but very few under contract which results in low conversion rates  that is indicated by a blue or green colouring.

The second half of the year is a different story as the number of properties for sale drops rapidly around February and the number of properties under contract skyrocket.  This improves the conversion factor and turns the icons orange and red.

There is certainly different activity levels through different price ranges and property types, but if you are thinking about selling or are on the market at the moment and somebody is telling you how tough the market, maybe they are living in the past.

Contact the sales team at Nerang First National on 07 55960055

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Tagged: market activity, property market, real estate activity

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