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# Statistical Analysis Real Estate Market

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Compare and Contrast price range for townships

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• Let’s explore the real estate marketPrice range -The importance of understanding the real estate market , and the fair market value is the price a seller will accept and a purchaser will pay for property under ordinary circumstances (IRS, n.d). When special life situations arise, such as a seller needing to relocate quickly, the home may be sold higher or lower than the fair market value to hasten the selling process-Why is there an inconsistent price range?High unemployment – is it causing decrease in value of a home
• Township 4 - Had the most house sold in Township 4Table 2a displays the homes sold in township 4, the median price range was \$188,000 and the mode was \$179,000. A fair market price for a 2000 to 2300 square feet long home in township 4 is \$180,000.Township 5 - Table 1A displays the homes sold in township 5, the median price range was \$207,000 and the mode was \$188,000. The ranges provide Team D a start point to receiving a fair market price for a home in township 5.
• Township 3 – At the lower end of the market township 3 had a median price range of \$203,000 and the mode is \$172,000. A fair asking price within township 3 is around \$190,000 for a home that is 2200 square feet.Township 2 - Table 4A displays the homes sold in township 2, the median price range was \$207,000 and the mode was \$192,000. A fair market price for a home in township 2 is approximately \$195,000Township 1 - Table 5A displays the homes sold in township 1, the median price range was \$218,000 and the mode was \$192,000. A fair market price for a homes in township 2 is about \$224,000.
• Table 2a displays the homes sold in township 4, the median price range was \$188,000 and the mode was \$179,000. A fair market price for a 2000 to 2300 square feet long home in township 4 is \$180,000.
• Influx prices due to unemployment - national average of unemployment is 6.9%; -Tampa area has 7.0% of unemployment (Simply Hired, 2010) - no fund – led to foreclosure Sampling – 20 homes within the range of \$150k to \$250k - The Histogram Chart visually displayed that most of the homes were sold for around \$190k.Confidence Intervals - calculated the means and standard deviation to arrive at a fair market price range. Intervals lowerThe estimated lower confidence limit or value in township four was \$171k. Higher The approximate higher confidence limit or value in township four was \$218k.
• Influx prices due to unemployment - national average of unemployment is 6.9%; -Tampa area has 7.0% of unemployment (Simply Hired, 2010) - no fund – led to foreclosure Sampling – 20 homes within the range of \$150k to \$250k - The Histogram Chart visually displayed that most of the homes were sold for around \$190k.Confidence Intervals - calculated the means and standard deviation to arrive at a fair market price range. Intervals lowerThe estimated lower confidence limit or value in township four was \$171k. Higher The approximate higher confidence limit or value in township four was \$218k.
• Visual display that showed chart skew to the left bring price down and offering a means price range of \$194k with a square footage of 2,215 in township four.The minimum price was estimated at \$164k with a 1700 square foot home.The maximum price for a home in township four within our sample was around \$243 with a 2900 square foot. Hypothesis of range \$150 to \$250
• ### Statistical Analysis Real Estate Market

1. 1. Real Estate<br />150K to 250K Homes<br />Team D<br />Yolanda Velez<br />Bobbi Morris<br />Gregg Ferragino<br />Jorge Ochoa<br />Prof- Jefrey Grogan Res/341<br />
2. 2. Introduction<br /><ul><li>Real Estate Market
3. 3. Price Range
4. 4. Inconsistency in Price
5. 5. Unemployment</li></li></ul><li>Purpose of the research<br /><ul><li>Consider all variables
6. 6. Review and analyze</li></ul>-Data<br />-Current economy’s affect <br /><ul><li>Assess the fair market price
7. 7. Assist home buyer/seller in transaction </li></li></ul><li>Dispersion Statistics Price<br /><ul><li>Range</li></ul>-\$164.1k - \$243.7k<br /><ul><li>\$79.6k in price range
8. 8. Variance</li></ul>-\$473.09<br /><ul><li>Standard Deviation</li></ul>-21.5<br />
9. 9. Dispersion StatisticsSquare Footage<br /><ul><li>Range
10. 10. 1,700 to 2,900 sq. ft.
11. 11. 1,200 sq. ft. in range
12. 12. Variance
13. 13. 88,275
14. 14. Standard Deviation
15. 15. 297.11</li></li></ul><li>Research Questions<br />What causes house prices to go up or down?<br />What effects does the market have on the prices?<br />
16. 16. Research hypothesis<br />Prices of the house and what effected them.<br />Desired living such as schools and square footage made a house price go up. <br />Economy also was a factor if the house price went up or down in an area. <br />
17. 17. Sampling design<br /><ul><li>Population- All houses in inventory or sold
18. 18. Sample - In the range of 150K to 250K
19. 19. Location - Tampa, Pasco , Riverview, Brandon , Valrico
20. 20. Appropriate size sample -drastic affect on the data</li></li></ul><li>Sampling Design<br />Tampa, Florida homes in township 2 priced at \$150,000<br />Home below has 2bd, 2.5 bath, and is 1500 sqft<br />Home below has 3bd, 1& 1 ½ bath, and is 2065 sqft.<br />Price is the same but size is different<br />
21. 21. Data collection<br />
22. 22. Data collection<br />
23. 23. Data analysis using descriptive statistics<br />
24. 24. Conclusions and Recommendations<br /><ul><li>Influx Prices
25. 25. Unemployment
26. 26. Sampling
27. 27. 20 houses
28. 28. Township 4
29. 29. Confidence Intervals
30. 30. Fair market price</li></li></ul><li>Conclusions and Recommendations<br /><ul><li>Influx Prices
31. 31. Unemployment
32. 32. Sampling
33. 33. 20 houses
34. 34. Township 4
35. 35. Confidence Intervals
36. 36. Fair market price</li></li></ul><li>Conclusions and Recommendations<br /><ul><li>Visual Display
37. 37. Means
38. 38. Minimum
39. 39. Maximum
40. 40. Hypothesis</li></li></ul><li>References<br />Anonymous[j1]. (2010). Field Guide to Quick Real Estate Statistics. Realtor.org. Electronically retrieved 6 September 2010. <br />Anonymous. (No Date). Home Buying and Selling: Determining Real Estate Fair Market Value.Moneyinstructor.com. Electronically retrieved 6 September 2010.<br />Anonymous. (No Date). Tips for First Time Home Buyers. Realestateabc.com. Electronically retrieved 13 September 2010.<br />IRS. (No Date). Publication 561 - Main Contents. Irs.gov. Electronically retrieved 6 September 2010.<br />Prophet, R. (2009). Your Home's Fair Market Value. Prophetnews.com. <br />Electronically retrieved 6 September 2010.<br />Simply Hired. (2010). Tampa Jobs. Retrieved from http://www.simplyhired.com/a/local-jobs/city/l-Tampa%2C+FL<br />