Residential Market Studies
The Siracusa Company offers a range of residential market studies tailored to the individual needs of the client and the circumstances. Such studies may apply to a single product on an individual site or entail multiple products within a master-planned community. A residential market study may also be a component of a mixed-use development, which involves other non-residential uses, as well. Residential market studies can apply to urban in-fill sites, as well as sites in growing suburban communities. Our residential market studies include the following uses:
- For Sale Housing (single family and multi-family)
- Rental Apartment Housing
- Senior Housing
- Mobile Home Parks
- Mixed-use Developments
In every instance, our approach is to provide a comprehensive analysis of the market which utilizes a variety of factors from in-field audits to economic and demographic data to identify sectors of market demand and relate this to the specific property under investigation. We also utilize historic trend data from our on-going quarterly market reports to identify areas/products of strength or weakness and to ascertain opportunities not already being served. A unique component of our analysis is our extensive experience in researching key markets over long periods of time which provides an invaluable familiarity regarding locational and product strengths, not necessarily evident from strictly statistical analysis.
From our data analysis we draw the following conclusions and recommendations:
- An evaluation of the subject site from various perspectives.
- A delineation of the primary and secondary market areas from which consumers will be attracted.
- A summary of characteristics of competitive projects in the market area.
- Stratification of market demand by product type and pricing.
- Tailored product design recommendations including:
- Product types
- Floor plan mix by square footage
- Bedroom and bath counts
- Competitive pricing
- Projected absorption rate
- Identification of Planned and Proposed Competition.
Advantages of The Siracusa Company
- Principal has more than 30 years of experience in residential market analysis.
- All sites personally inspected by company principal.
- Use of historical trend data to more precisely define past and current market segmentation in order to yield insights regarding potential trends in future market segmentation.
- Long-standing relationship with real estate developers and agents in the field.
- Utilization of resale data to reveal the relationship between new and resale housing values.