Price Quality Index (PQI)
The first price quality recommendation for real estate properties.
Properties in the real estate market are bought and sold every day, and the most important thing that makes a property move is its price. However, while there are many services where you can find out the price of listed properties, there's nothing that will tell you if that price is a Great Price or it is Overpriced at this moment in time.
That's where Realdax's Price Quality Index comes in. Price analysis takes into account the prices of all listed comparable properties in the same city, and tells you if this property is one of the best or worst priced in this group.
GREAT PRICE: It shows you that the property is more aggressively priced (well-priced) than most of the similar properties in its market.
FAIR PRICE: It shows you that the property is within the average range of variance in its price per square feet amongst all the listed similar properties in its market.
OVERPRICED: It shows that the property is overpriced, as result of being one of the highest price per square feet amongst similar properties listed in its market.
Note that Price Quality Index (PQI) is only available for listed properties, since they are the ones with a listing price. Off-Market properties will not have a price quality index.