A colleague had recently urged me to take a look at Altos Research, a real estate research company that produce real estate market trend reports. Altos claims to offer "Real Time Real Estate Research" for various MSA's that seemed to have merit from only a high altitude. There full product appears to be much more robust, but also a bit more more expensive as well!
Although I am unsure where the company gets their actual "real time" data, the few times I have pulled a free report on Oviedo zip codes (32765 & 32766), the numbers were not far off to what I am currently seeing through my typical sources.
The Altos reports are only based on single family residential units and do not include condominiums or townhomes. Be careful not to rely solely on the price per square foot chart as it could unintentionally mislead by lumping in pool properties, acreage properties, and waterfront properties which typically increase the dollar per foot number.
The free version of Altos is an entertaining model but not much use in gaining specific knowledge of real estate market trends within many local markets. It must be remembered that statistical information is most useful when you understand the pool in which the statistics are drawn from. Most of the free information appears to be relatively standard in other Central Florida areas and lacks explanation on how they calculate the statistical data for median price or DOM (sample size, time period trended, property types).
All in all, Altos is primarily designed for real estate agents or residential investment firms that would like an eye pleasing report quickly. This service could be utilized as a snapshot tool of a general market for someone that lacks the time to perform their own statistical research. The reports available from the local MLS are also general to an area (by County) but along the same line as the Altos report.
Try it for your own area and see if you agree.
Comments(1)