In addition to analyzing the marketable aspects of the site or property, our typical housing market analysis will include a determination of the primary and secondary housing market areas from which demand will be generated, and the housing market analysis will address trends in these geographic areas. We will analyze housing market growth patterns to include a survey of selected multi-family rental and/or for-sale projects to determine resident profiles, rental rate and sale price structure, amenities, unit design, product features, location, and the types of units that appear to be achieving the highest level of market acceptance. Our field survey of selected existing multi-family projects will typically include the following information, where available:
- Name / Location / Age / Developer
- Total units / Housing Types / Unit mix
- Rental rate range / Rental rate per square foot
- Sale price range / Sale prices per square foot
- Absorption rate (since opening date and during past 6 months if available)
- Product features and amenities
- Renter or Buyer Profile
We will analyze historic trends in construction, absorption, vacancy, pricing and rental rates plus address the historic and emerging profiles of the users of housing in this general locale.
We will analyze competitive multi-family projects under construction or planned within the market area. Our survey will typically include the following, where available:
- Proposed New Rental Apartment Construction, Conversion Activity, and For-Sale Housing Development
- Project name / Location / Developer
- Development status / Number of units / General project characteristics
- Projected rental rates or price ranges
- Competitive position
The competitive market analysis will be supplemented by confidential interviews with knowledgeable sources in the residential market including brokers, builders/developers, and lending institutions, to evaluate the vitality of the housing market at the project location.
If necessary, we will evaluate the depth of the market for residential homes at the subject property’s location, and determine whether there is likely to be demand for residential uses there, going forward.