Back Thursday - Some Charts
Away for 4 days and back to work Thursday. While we finish final structural improvements and front end design UI to wrap around the analytics platform, here are a few more sneak peaks comparing the Upper East vs Upper West sides for you. Consider as beta for now as we are yet to implement a few structural upgrades to data. The new site was designed to allow subscribers with the flexibility to customize charts to submarkets and price points. Here are just a few examples without the new UI code:
2 YR TRENDS OF PENDING SALES FOR ENTIRE UES vs UWS MARKET
2 YR TREND OF PENDING SALES FOR UES vs UWS 2-BATH (minimum) MARKET BETWEEN $1m-$2m
**Note: These are pre-launch snapshots and may not reflect the final version. We have a few major revisions yet to finish to enhance data quality and measurement quality for all statistics, that are not reflected in the above charts. Use at your own risk for now, as final numbers may change a bit for official launch when all coding fixes are fully implemented.
The new system was designed from the ground up around the idea that Manhattan is a highly segmented marketplace. In other words, there is no ONE market. Rather, Manhattan consists of many various sub-markets and price points ranging from studio apartments in FiDi to 3BR/3BTH+ apartments in the Upper West Side; and everything in between and outside of that. I'll try to give some more sneak peaks as we progress towards launch.
Back to posting end of week!
Posted by blago
Mon Jul 12th, 2010 04:27 AM
I don't understand why two different values in vertical axis. Also curious why search value is based on 2 bathrooms rather than bedrooms.
Posted by Malcolm Carter
Mon Jul 12th, 2010 10:41 AM
Nice! Can't wait for you to finish, Noah.
Posted by Noah
Mon Jul 12th, 2010 12:19 PM
thx Malcolm! its all done, just doing front end user interface and fine tuning user tools for full functionality of the analytics. Aug looks concrete for it to go out.
Posted by Noah
Mon Jul 12th, 2010 12:33 PM
Blago - found your comment in JUNK, did you hit the 'nyc' keyword? Glad I found it before I emptied the folder.
My answer:
1. The platform was designed to compare submarkets and the 2 vertical y axis are color coded to the proper submarket - in the top chart, its just coincidence that the range scale is exactly the same. Almost every other submarket comparison that is not the case and the scale range is different for measurement of each submarket. Especially when you compare say a Tribeca/Soho market to a UWS market where the trend occurs at significantly different levels. Also, this is pre-launch sneak peak. Front end design and css styles are yet to be reflected.
2. We did research on quality of data inputted by agents and people must understand the governance and design of this system is all around data quality, completeness and reliability. When it came to separating the products out there, we needed a unit of standardization. That could be:
1. Bedrooms
2. Rooms count
3. Bathrooms
It was clear by far that BATHROOMS were the:
a) most complete
b) least inflated
c) most reliable
unit of standardization we could use to compare one product to another. Think about it, how often do brokers market a true 2BR + dining room as a 3BR apt? Room count I wont even touch, that datapoint is highly inflatd and inaccurate.
Now think about how often brokers lie about # of bathrooms? Rarely, if ever! Its the highest quality unit to break down submarkets with. And when it comes to analytics, data completeness and quality are top priority.
Hope this answers your questions.
Best!
Posted by Robert F.
Tue Jul 13th, 2010 01:06 PM
I was also curious about the different axis values, thank you for clearing that up!
Posted by Fred
Wed Jul 14th, 2010 09:10 AM
Noah - Using # of bathrooms as the metric is a very elegant solution to one of the market's most pervasive annoyances: 2s pretending to be 3s and 1s pretending to be 2s.....I always laugh when I see a pre-war 3/1, crammed into 1,100 SF.
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