Market Data-Its Slippery than a Greased Pig
By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
Trying to wrap your arms around market data in Northern Virginia these days is like trying to catch a greased pig at the county fair. Everyone has a different take on the numbers and trying to figure out why might get you a blue ribbon but that is about all.Recently I read a market report indicating only one townhouse had sold in a local neighborhood last year. Instinctively I knew the data was incorrect. There was just no way that only one townhouse sold in this very popular local neighborhood. So I went to the MLS to check the data. This is where the slippery pig appeared. How do you define a neighborhood? Is it by geographic location, is it by how the "locals" classify the neighborhood or is it by the county tax records. If two neighborhoods run together geographically and by...
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