What is NeighborhoodX?
NeighborhoodX offers neighborhood-level data and analytics. Our goal is to provide insight and context for individual real estate listings.
We realized that on their own, neither data nor market reports offered the complete picture of a rapidly-changing neighborhood. We have tried to offer a glimpse of some of the factors that may prevent prices from rising, or which suggest that an area is under-valued.
And the higher-level view: we've been working on a way to thoughtfully organize critical data on the world's cities, in a way that enables quantitative and qualitative comparisons, and allows the sharing of best practices of cities that are facing similar challenges, from climate change to affordable housing.
Who is it for?
we help people make sense of real estate listings. Is this a bargain in an emerging neighborhood? Or is it even in the hot neighborhood it claims to be in?
Our audience is everyone across the real estate spectrum, from individual buyers, sellers, and renters to institutional and professional audiences such as developers, brokers, lenders, and insurers. Our goal is to add transparency to an opaque market, and to help users make faster, more informed decisions.
Where do you get your information?
Our data is proprietary analysis of either closed or current listings, and our maps and research are proprietary as well. We draw from a mix of validated public, semi-public, and private data sets for our research.
Why do neighborhood boundaries matter?
We did a video about this here
Quick version: when you draw neighborhood boundaries, you include or exclude entire streets and blocks. The properties on these areas can affect the average price for a neighborhood – and this, in turn, affects whether a particular property is priced higher or lower than average.
Also, sometimes brokers or owners will list properties in an emerging neighborhood as (falsely) being in a more desirable neighborhood nearby. We wanted to level the playing field and give everyone – buyers, sellers, renters, developers and investors – better information.
What's up with all the sloths on the site?
They're our spirit animal.
Why do your market reports use price per square foot, and price ranges?
There are excellent reports already that offer median listing price, including the reports of record by our advisor, Jonathan Miller of Miller Samuel. We wanted to offer a complementary metric.
Price per square foot allows us to compare different types of properties in different neighborhoods by putting them on equal footing – what does a square foot of space cost in one neighborhood vs. another, and how do these compare?
How often are NeighborhoodX’s data and analytics updated?
Our data and analytics are updated on an ongoing basis, plus or minus one standard of deviation depending on coffee and sleep.
How do you ensure data quality?
Our neighborhood-level market analyses focus on market-rate listings. These exclude foreclosures and short sales; income- and age-restricted properties; properties positioned primarily as development sites or ineligible to be purchased with conventional financing; those conveyed with rent-controlled tenants in place; and certain listings with incomplete or contradictory information.
Two-toed, or three-toed sloths?
Three-toed. As Janet Jackson might say, Bradypus variegatus
, if you're nasty.
What should I do if I believe some of the information I’m seeing is incorrect?
If you are concerned that any piece of information is inaccurate, please click on the Corrections icon at the bottom left corner of the screen to let us know.
I have an idea for a data set or feature.
Let us know! And please send coffee, too.