This week, our highly trained elves and worker bees initiated our market coverage of Wichita, Kansas bringing the total markets that we watch weekly to 118 across the United States. Yep – that’s 118 markets. (Johnny Cash would be proud…)
Thought I’d spend a few minutes describing what we mean by “markets” here at Altos Research and talk a bit about our coverage.
What’s a “market area” in Altos-speak?
We define markets by Metropolitan Statistical Area (MSA) and when we begin monitoring any MSA, our real-time market data is available for any geographic scope within the MSA, including:
- By zip code
- By city
- By County
- By MSA/CBSA
- By custom region or composites (could be a group of zips, cities, or any other combination as defined by our clients including the Altos-20 Case Shiller composite for example)
Ok, so what’s an MSA/CBSA?
Metropolitan Statistical Areas (MSAs) and Core Based Statistical Areas (CBSAs) are designations created by the Office of Management and Budget and is primarily used for the US Census to define specific urbanized areas. You can check out the counties included in every MSA here.
Where’s the complete list of the Altos Research market areas?
- The first place to start is to check out our Free Research page to locate the market areas that are currently “live.” If you see your market area there, then that answers it!
- If you don’t see your market area listed there, just ask us. We’re adding new markets all the time, just like we did with Wichita this week. When you check out the Free Research page, you’ll notice that Wichita isn’t on the list yet. There’s a good chance we’re covering your market, it just may not be live on our main website yet.
Are Altos Research products available for markets that aren’t “live” yet?
Absolutely! As soon as we starting watching any market, our data is available for use in any of our marketing solutions for real estate professionals and data services for financial and corporate clients. We usually like to give ourselves about 90-120 days to double- and triple-check the data and our own market monitoring processes to make sure everything is going well – that’s why a particular market area might not be “live” on our website.
How do you add new markets?
New market coverage is based on two main criteria.
- Client request: If you’re a customer and there’s a market area where you require, we can usually begin monitoring that market within a few weeks.
- Market size: We routinely examine the country to see which markets we’re not covering and then we’ll initiate coverage on our own.
That’s the skinny for now. If you’re a “Data Geek” and want to receive a copy of our Stats Datasheet or just have more questions, shoot me an email – happy to help.