Gulf Condominium Real Estate Analysis Essay

Gulf Condominium Real Estate Analysis Essay

Length: 1194 words (3.4 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

Gulf Condominium Real Estate Analysis
After analyzing a sample of 40 gulf view condominiums and 18 no gulf view condominiums it becomes evident that variations exist between the two different types of properties. When reviewing the data it becomes clear that luxurious gulf view condominiums can fetch larger selling prices and are listed on the market for fewer days than no gulf view condominiums. No gulf view condominiums fetch lower selling prices and sit on the market for longer periods of time since they are not as popular as condominiums that have wonderful views of the gulf.
5-Number Summary, Mean, Mode, Range, and Standard Deviation
40 Golf View Condominiums
List Price Sale Price Days to Sell
Five-Number Summary
Smallest value 200.00 189.00 22.00
First quartile (Q1) 467.00 452.90 70.00
Median (Q2) 639.00 604.20 137.50
Third quartile (Q3) 843.00 801.40 225.50
Largest value 962.00 935.10 298.00

Mean 629.00 606.59 146.65

Mode 639.00 NA 249

Range 762.00 746.10 276.00

Standard Deviation 227.05 221.34 87.35
IQR Rule for Outliers
New Low End -97.00 -69.85 -163.25
New High End 1,407.00 1,324.15 531.25

The chart above paints a solid picture of the five-number summary, mean, mode, range, and standard deviation for the 40-gulf view condominiums sampled for our analysis. When looking at our analysis of golf view condominiums we can see that a large price range exists with one unit selling for $189,000 on the low end and another selling for $935,100 on the high end with an average selling price of $606,590. Gulf view condominiums have a range of 276 days on the market with units selling in as little as 22 days and others taking as long 298 days. According to the Interquartile Range Rule for...


... middle of paper ...


... more money than no gulf view properties and also sell in shorter periods of time. The higher asking price and lower turnaround might be something to consider if the purchaser only plans to hold the property for a short period of time. The good news is that gulf condominium realtors regardless of property type can take the gulf view and no gulf view condominium data and use this information to their advantage so they can clearly communicate the anticipated selling price and time frame to their clients. Ultimately this will be good for both the realtor and their clients since communication is also a key to success.



References
Anderson, D., Sweeney, D., & Williams, T. (2012) Essential of statistics for business and
economics. Mason, OH: South-Western Cengage Learning.
UNC. (2014). IQR rule for outliers. Retrieved from http://www.unc.edu/~rls/s151-09/class4.pdf

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Coal Harbor Real Estate – A Good Investment Option

- Coal harbor is a small section situated between Canada’s downtown peninsula (Vancouver) and Brockton Peninsula of Stanley Park. It derived its name when coal was discovered in 1862 in the harbor. Vancouver Harbor Water Aerodrome can be found in this place. Coal Harbor real estate is very interesting. The northwestern section of land contains a community center, boating and rowing clubs, private marinas and parkland while in the southeast and Georgia Street, the neighborhood comprises of apartments and high rise buildings....   [tags: Real Estate]

Strong Essays
570 words (1.6 pages)

Essay on Real Estate Properties And Residential Properties

- Real estate valuation is also known as property valuation or land valuation and defined as valuing the real estate property. There are two types of real estate properties: commercial and residential. Residential properties are meant for single family homes, whereas commercial properties are meant for offices, apartments, retail, or industrial buildings. The valuation of real estate properties is necessary, and there are various ways to value real estate properties. There are two types of real estate properties, and these are commercial and residential properties....   [tags: Real estate, Real estate appraisal, Cash flow]

Strong Essays
1915 words (5.5 pages)

Essay on Benefits Of Owning A Condominium

- You just graduated Grad school and landed your first job at a fortunate 500 company. Now it’s time for you to make some real life investments. You decided that you wanted to purchase your first property instead of renting. Renting can be a great option but will not be a great investment, nonetheless owning a condominium is more of an affordable route if wanting to own a property. In my research paper I will discussing the benefits of owning a condominium as well as becoming finically ready to make your first purchase....   [tags: Real estate, Property, Apartment, Renting]

Strong Essays
805 words (2.3 pages)

Distressed Real Estate and Foreclosure Essays

- Foreclosure.com Scholarship Program In existence is $150,000, specifically set aside for the purchase of distressed real estate. This essay will outline a detailed strategy ensuring a maximum return in regard to the financial investment made on the home. Including a description of distressed real estate and foreclosure in addition to how utility can play a role in the decision-making process. Distressed Real Estate and Foreclosure Distressed Purchase Collateral for the defaulted loan. Distressed real estate involves making a distressed purchase....   [tags: Real Estate ]

Strong Essays
933 words (2.7 pages)

Investing in Distressed Real Estate Essay

- A fast growing trend in today’s rocky real estate market; buy a house, flip it and sell it quickly to earn a lucrative profit. In today’s real-estate market you have to be smart about the purchase you make and do your homework. Choosing the right neighborhood, a home with good bones, a large lot, and quiet street are key factors in producing a profitable investment. Choosing a home in sketchy transitional areas and over improving for the type of market can leave a real estate investor with a property that stays on the market, causing the investor to loose profit and have to lower his asking price below market value....   [tags: Real Estate ]

Strong Essays
1884 words (5.4 pages)

Distressed Real Estate Project Essay

- Many Americans today live in conditions of urban blight, stranded in marginalized areas which are not viewed as attractive investments by developers. Yet properties in these neighborhoods can yield immense benefits to the developer’s pocketbook as well as his conscience. All distressed areas have characteristics to recommend them, if one is willing to take risks and reject myopic thinking these appealing aspects can be harnessed to generate profits and revitalize the surrounding community. One city struggling with vast tracts of neglected real estate is Buffalo, NY....   [tags: Real Estate ]

Strong Essays
1251 words (3.6 pages)

Becoming A Real Estate Agent Essay

- This paper goes into detail about becoming a real estate agent in Ontario. It talks about how there are many benefits that go along with the occupation which include making your own work schedule. It also talks about how there many negatives such as not making any money in the first few months of working as a real estate agent. In order to become a real estate agent, people must complete several courses offered by the Ontario Real Estate Association College. In addition to the completion of the courses, people must register with the Real Estate Council of Ontario....   [tags: Real estate, Property, Real property]

Strong Essays
1471 words (4.2 pages)

Essay on Commercial Real Estate

- Commercial real estate is any property other than a single family home or a residential lot in a neighborhood. The commercial real estate market is handled very similarly industrial and residential real estate markets. The commercial real estate market goes through ups and downs just like any other investment market however investments into commercial real estate can be a very wise decision. Commercial real estate is similar to industrial and residential real estate in that when you buy it you are buying a building or land....   [tags: Real Estate]

Strong Essays
974 words (2.8 pages)

IT In Real Estate Essay

- IT In Real Estate ABSTRACT Real estate is a very vast field it is growing day by day and it's not easy for buyer, seller or renter to get the information they require. There are many agents and agencies to whom people have to contact or visit to get the information which waste a lot of time and tiring and sometimes they are also not reliable ,so for easing this problem IT is playing it part by making real estate websites so that its easy for the buyer to find their desired property by searching all the properties available in different areas ,in the same way seller add their property and get it sold easily and people who are searching for property to rent can also find all the property ava...   [tags: Information Technology Real Estate]

Free Essays
944 words (2.7 pages)

Essay on Geographic Technology in Real Estate

- Geographic Technology in Real Estate: A Technology Assessment Report Introduction Real estate is defined by the Barron’s Dictionary of Real Estate Terms as the “land and everything more or less attached to it. Ownership below to the center of the earth and above to the heavens.” This definition clearly conveys the geographically fixed nature of real estate and the inherent risk associated with this characteristic that is not found in other financial assets such as stocks and bonds. It is the identification and quantification of these risks that dominates the real estate decision....   [tags: Geography Real Estate]

Strong Essays
2330 words (6.7 pages)