The Pier Bowl and downtown are small, walkable areas. That is part of their appeal, and it also makes their statistics easy to misread.
- What it covers
- A compact area where a few sales can move the summary numbers.
- Typical homes
- A mix of cottages, condominiums, townhomes and unique older houses.
- Reading the data
- Look at sold homes of the same type, size and location, not the area as a whole.
- Watch for
- Few sales in a period, a wide mix of property types and one-of-a-kind homes.
Why the numbers move
When only a handful of homes sell in a period, one unusually large or small sale can shift the average noticeably. The median helps, but it can still swing when the mix of homes changes from one month to the next.
What to ask
- How many sales are behind the figure? A small number means the figure is less stable.
- What types sold? Condominiums and single-family houses should not be blended together.
- How comparable are they? Older cottages, remodeled homes and homes with views can vary widely.
A better approach
Instead of relying on the area summary, compare individual sold homes that resemble yours in type, size, condition and location. Rudy can pull those comparisons for you.
Nothing here is a forecast, an appraisal or a guarantee. See the market glossary for definitions.
More Market Watch guides
- Reading the Data: Beach-Close Neighborhoods — Why homes near the sand are hard to summarize, and how to compare them fairly.
- Reading the Data: Planned Communities — Similar homes make comparisons easier, but association fees and phases can change the picture.
- Reading the Data: Hillside and Ocean-View Homes — A view is hard to put in a spreadsheet, so report averages tell you little.
- Reading the Data: Condominiums and Townhomes — Why attached homes should be analyzed separately from houses, and what the association changes.
- Reading the Data: Seasons in a Beach Town — Why comparing this month with last month can mislead, and what to compare instead.
General information only. Boundaries are informal and details change, so confirm specifics for any property you consider.