InfoSparks is a tool of discovery when it comes to researching your local market.
Whether you’re a longtime user of this MarketStats by ShowingTime product or logging on for the first time, chances are every time you open InfoSparks and play around with the various market metrics and time periods you’ll learn something new about your local market.
There’s a lot of MLS data available within InfoSparks. And, yes, even for the most experienced InfoSparks users, all of that data and information can sometimes be confusing to digest.
For example, consider the below line graph comparing Closed Sales in three different regions.
While the above image presents good data – we can see one market has significantly less Closed Sales than the other two – line graphs with this much information comparing multiple areas naturally lends itself to leaving you cross-eyed.
That’s why switching views and utilizing InfoSparks’ bar graph option can not only make some information easier to digest but can also help make some information better stand out.
Don’t get us wrong; we’re not discrediting line graphs. They’re great for many different uses, including viewing trends and seasonality over time.
But as we begin the fourth quarter of the business year, now is a good time to look at year-over-year changes using the Year to Date filter to see how the market is doing in various metrics compared to previous years.
Let’s say we want to see how this year’s Closed Sales compares to the previous two years. We’d want to set the time period to Monthly, but doing so using a line graph doesn’t always give you the clearest answer:
Using a bar graph is a simpler and more visually appealing way to view year-over-year changes, as in this example:
Plus, bar graphs are much easier to read when comparing metrics between different areas or neighborhoods, such as this example looking at Price Per Square Foot:
While line graphs are typically the default setting for most InfoSparks metrics, changing your viewing settings while browsing through your local market data can help give you and your clients a different perspective on your local market.
Do you have the market statistics you need at your fingertips?
If you’re a real estate professional and belong to an MLS that subscribes* to MarketStats by ShowingTime, you already have access to useful reports and charts for every situation.
For MLS and association staff who need to quickly generate reports and charts that summarize local market activity, MarketStats by ShowingTime can help. Contact us for more information.
*MLSs and associations subscribe to MarketStats by ShowingTime to provide ready-made statistical tools for members. MarketStats is currently sold only to MLSs or associations.