Homebuyers can now visualize hyperlocal
insights and broader neighborhood trends to find their perfect
home
SANTA
CLARA, Calif., Sept. 24,
2024 /PRNewswire/ -- Today, Realtor.com®
announced the launch of dynamic map layers, a set of new map-based
search features that allow users to answer classic home-buying
questions like "Is this house the best deal on the street?" and
"Where can I find the newest homes in a neighborhood?" or "Where
are houses selling for a lower price per sqft.?" Now, users can
explore multiple ZIP codes and neighborhoods with one quick glance
and use this information to find the home they want.
Dynamic map layers deliver a unique zoom and pan experience that
shows real-time visualizations of property data and neighborhood
insights all in one map. When applied, each layer illustrates
search parameters through color shading that represents aggregated
data including market trends for a specific area. The shading
dynamically adjusts to the property level as the user zooms in, and
gets broader as they zoom out, adapting to highlight different data
at each zoom level. Users can apply different map layers and access
unique Realtor.com® econometric data, like market
hotness, to find the best home options based on what they're
looking for.
"Do you remember when you bought your first smartphone and how
it completely changed how you use a phone? Dynamic map layers are
going to change how people search for homes online," said
Mausam Bhatt, Chief Product and
Technology Officer, Realtor.com®. "They are an entirely
new pathway to home discovery that allows buyers to answer their
most pressing questions with a look at a map. They present data in
an interactive way that is easy to use, easy to understand, and
easy to make the most informed decisions with – so users can
confidently choose the place they call home."
Seventy-one percent of real estate website/app users think that
more visual or map-based features could help them learn more about
properties and compare homes more easily, according to a recent
survey conducted by Realtor.com®. Ninety percent stated
they would value being able to search for "home size" and "home
value" via a map on a real estate search sites.
Whether it's someone with a limited budget searching for the
best buy in a specific area; a buyer who wants to understand the
market competition of a home in order to make the best offer; or, a
buyer who is comparing multiple neighborhoods so they can decide
where to invest, Realtor.com® users can dive deeper and
explore homes with the following layer options:
- Home Estimate - the home's current estimated value, powered by
RealEstimatesm
- Estimate/ sqft. - the home's current estimate total value
divided by its total square footage, powered by
RealEstimatesm
- Lot Size - the property's parcel size as measured in acres
- Lot Slope - the property parcel's average lot slope
- Home Size - the size of the home measured in sqft.
- Year Built - the year the home was built
- Market Hotness - an index from 1-100 (very cool to very hot)
indicating how quickly homes sell and the level of buyer
demand
- Sold Price vs. List Price - the sold price shown as a
percentage of the original list price (based on properties sold in
the last year)
- Sold Price/ sqft. - the home's most recent sale price divided
by its total square footage
- Days on Market - the time it takes properties to sell (based on
properties sold in the last year)
- Neighborhood - display neighborhood boundaries and access
details on the number of homes on the market, the median number of
days homes spend on the market and the median list price within a
neighborhood
Dynamic map layers offer unparalleled data visualization with
dynamic zoom and pan functionality. By using these layers, users
can get an equally holistic and granular view of a home's
characteristics and a neighborhood's attributes.
About Realtor.com®
Realtor.com®
is an open real estate marketplace built for everyone.
Realtor.com® pioneered the world of digital real estate
more than 25 years ago. Today, through its website and mobile apps,
Realtor.com® is a trusted guide for consumers,
empowering more people to find their way home by breaking down
barriers, helping them make the right connections, and creating
confidence through expert insights and guidance. For professionals,
Realtor.com® is a trusted partner for business growth,
offering consumer connections and branding solutions that help them
succeed in today's on-demand world. Realtor.com® is
operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV]
subsidiary Move, Inc. For more information, visit
Realtor.com®.
Media Contact
Asees Singh press@realtor.com
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SOURCE realtor.com