Business Analysis : Condominiums For Sale Essay
The cost or real estate can differ from region to region and with size and quality. One factor that greatly effects the sale of a piece of property with a view. Such is the data that will be analyzed herein. Can the data support the fact that there will be buyers willing to pay more for a condominium with a view? Consequently, would a comparable home without a view that is considerably less expensive actually take longer to sell?
Overview of the Condominiums for sale The data analyzed below in Table I, clearly depicts the fact that the condominiums with a view are selling for more than half the price of one with a view. It also indicates that the units are selling on average, 50 days sooner too. In fact, one of the greatest contributors to this would be water, and how close the property is to this water. According to Poretsky (2015) “whether it 's located near an ocean, lake or river, people pay more for waterfront property. While you might think the value comes from the view, there 's actually a lot going on to justify the higher values that waterfront parcels enjoy” (para. 1). There seems to be an attraction to waterfront property for its scarcity and possible serenity.
Descriptive Statistics What this data also depicts, as seen in table II below, is the remarkable swing in price. The list price for a gulf view ranges from 161K to a staggering 996K. The 996K condominium is also considered an outlier and will skew the data negatively until…