Thanks to all our customers who have checked out the addition of cities and subdivisions to rbiEXPERT. We’ve had a surge of interest over the past week as MRIS agents look into the statistics for the neighborhoods where they specialize. We thought we’d share a few examples of what types of new data are available to subscribers and to kick things off here’s a look at one of DC’s most popular neighborhoods: Capitol Hill.
Like so many urban neighborhoods, this one has legal boundaries based on an official map as well as perceived boundaries based on what people who live in the city see as the neighborhood’s perimeter. This latter designation is what changes over time as populations move in and out of certain regions. But more importantly for real estate, it is the perceived boundaries that clients use when they search online for properties. Now with rbiEXPERT’s newest offering subscribers can pull data for listings and sales that have happened within these unofficial, but preferred, boundaries. In the case of Capitol Hill it makes a huge difference in the sales prices.
Here’s the median sales price for what we’re calling Capitol Hill (Advertised)—in other words the part of the city that people think of when they hear the words Capitol Hill. Note the price is $761,750, much higher than the same statistic for the two official zip codes of the neighborhood.
For comparison, here’s the median sales price for Capitol Hill North (zip code 20002).
And here’s the median sales price for Capitol Hill South (zip code 20003).
Now it is much easier to help clients get a clear picture on what homes are going for in the neighborhoods where they want to live. In this example there is almost a three hundred thousand dollar difference between the first two numbers and a hundred and thirty thousand dollar difference between the first and the last two numbers. We’re going to keep looking into the data to see what other nuances we can tease out, so please let us know in the comments if there are any neighborhoods where you want us to look.
If you’re not an rbiEXPERT subscriber, you can try rbiEXPERT before you buy! Test drive rbiEXPERT and these new location types FREE for 14 days. Sign up today by clicking here. If you cancel your account before the trial period expires, your credit card will not be charged.