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Gulf Real Estate Properties - Essay Example

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Summary

The matters dealing with purchase, renting and sale of land and the structures over it are often termed as Real Estate. A series of structured real estate may include entire buildings, individual houses, condominiums, town houses etc. …
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Gulf Real Estate Properties
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"Gulf Real Estate Properties"

Download file to see previous pages The current research focuses specifically on real estate with respect to condominiums. In order to focus our research a company centering specifically on the real estate relative to condominiums, “Gulf Real Estate Properties”, has been chosen for study.
A real estate company native to southwest Florida, the Gulf Real Estate Properties proves its mettle in the real estate arena by making sound practical research regarding condominiums. This, they accomplish by collecting on site data, monitoring information relative to the sale and purchase of condominiums. The number of days it takes for each condominium to be sold is also taken into account and recorded for analysis and reference.
The Gulf Real Estate Properties has classified the condominiums by separating those present on the areas of the Gulf from those present elsewhere such as on the bay or a golf course. The data relative to the recent sales of Condominiums both on and off Gulf, which is in thousands of dollars, has been selected. Statistical analysis of the acclaimed data would reveal facts which would be accommodated within a managerial report.
Data
The data comprise of three variables namely list price, sale price and days to sell for both the categories of condominiums that are “Gulf View” and “No Gulf View”. The sample size for former is 40 while for the latter it is 18. The price values are given in thousands of dollars. ...
The descriptive statistics highlight multiple factors that would assist a real estate agent comprehend the real estate market. The sample mean of days to sell variable for Gulf View Condominiums (= 106 days) is comparatively lesser than the sample mean of No Gulf View Condominiums (= 135 days). This apparently shows that the condominiums located directly beside the Gulf of Mexico are sold in lesser time than those that are not. Despite the fact that the sample mean values of price variables for Gulf View Condominiums are higher than the other category condominiums it seems that the Gulf View Condominiums are quicker and easier to sell. This fact is asserted by the sample standard deviation values (= 52.22 & = 76.3) of both the samples by highlighting the fact that the sample mean of “Days to sell” variable (= 106 days) for Gulf View Condominium represents the sample data with more consistency and lesser dispersion. The margin of error for No Gulf View category is also higher as compared to the Gulf view category due to higher standard deviation value. Further analysis along with interval estimations is presented in the next section. Table 1.0 Descriptive Statistics of each of the three variables Descriptive Statistics Gulf View Condominiums No Gulf View Condominiums List Price Sale Price Days to sell List Price Sale Price Days to sell Mean 474.01 454.22 106.00 212.81 203.19 135.00 Standard Error 31.19 30.44 8.26 11.54 10.35 17.98 Median 437.00 417.50 96.00 212.50 203.50 126.00 Mode 975.00 305.00 85.00 279.00 179.00 #N/A Standard Deviation 197.29 192.52 52.22 48.95 43.89 76.30 Sample Variance 38923.36 37063.09 2726.51 2395.64 1926.48 5821.65 Range 805.10 810.00 254.00 ...Download file to see next pagesRead More
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