LA_SD_Housing_Market_Watch
Contributors: Jeff Lin, Trey Younce
Utilizing various statistical methods in an effort to analyze California’s housing shortage, considering the effect of time on the market for housing in LA and SD county. In most cases, homes are sold faster if their price is below the original listing value. We will measure evaluate the effectiveness of lowering the listing price by calculating Price Cut Ratio, the difference in the closing price and the listing price.
Hypothesis
- Is the average Time on Market of LA shorter than Time on Market of SD? What is the difference in the statistical and realistic impact?
- If the ToM is < 60 days, what is the effect on Closing Price vs Listing Price?
California Regional Multiple Listing Services (CRMLS) Real Estate Market Analysis using houses (single family residentials and townhouses) sold between January 2015 and December 2019 in the Los Angeles Counties and San Diego Counties from the CRMLS.