A recent post by business magazine FastCompany directed our attention to a new infographic produced by real estate listing specialist Trulia. Called the Price Reductions Map, this interactive tool allows users to zoom in and out on any location in the continental U.S. for Zip-code-by-Zip-code breakdowns of Tulia’s listings data, from average prices to the average number of days on the market before prices were reduced to the average price-reduction percentages, and even the probability of second price reductions.
The map basically is an expression of Trulia’s Home Offer Report, a compilation of data from non-foreclosure listings that have appeared on Trulia.com. As currently presented, the map represents data on listing prices and price reductions, for almost all types of residential listings, from March 31, 2010, to March 31, 2011. Trulia culled the information from brokers, agents, third-party aggregators, and Multiple Listing Services, and the map addresses only those Zip codes with at least 20 residential listings.
The map is color-coded and extremely easy to use, with a speedy zoom-in/zoom-out function and a mouse-over feature that instantly pulls up a balloon showing pricing, price-reduction, and probability data for the relevant Zip code. The map’s five colors are intended to give you a general sense of the price-reduction probability in each location: dark blue indicates that houses in that area are on the market for an average of 30 days before they’re listed at a lower price; teal green means the average is 52 days; dark green means 75 days; light green 97 days; and yellow 120 days. Mouse-overs on specific Zip codes provide more-specific “days before price reduction” calculations.
As tools for presenting housing market surveys go, this is one is pretty slick.
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The Price Reductions Map, an interactive tool on the Trulia.com website that provides snapshots of average listing prices for most types of residential properties, the average number of days listings have been on the market before their prices were reduced, and other information based on data collected from March 31, 2010, to March 31, 2011.
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Price reductions in locations coded with dark blue occurred more quickly, on average, than those in locations coded in lighter colors.
