An Automated Valuation Model (AVM) is a computer-driven program that utilizes mathematical modeling, incorporating data from multiple sources, such as property sales histories, public records, and other real estate databases, to estimate the market value of a property.
Capture rate is a key metric in real estate that measures the sales or leasing rate of a particular development compared to all developments in the market area. This rate helps developers and investors gauge the market performance of a specific project within a competitive landscape.
In real estate, 'COMPS' or 'Comparables' refer to properties similar in characteristics to the subject property that have recently sold and are used to help determine the market value of the subject property.
The study of the characteristics of people residing in an area, including age, sex, income, educational levels, and more. Understanding demographics is crucial for real estate market analysis and strategic planning for developments.
Market Delineation is the process of defining the geographic extent of the demand for a specific property, which helps in understanding where potential customers come from and how far they are willing to travel.
