...Gulf Real Estate Properties | QUMT 6303 Case Study | | There’s a real estate firm named Gulf Real Estate Properties, Inc. that is in the southwestern part of Florida. This company promotes itself as "expert in the real estate market." They evaluate sales of condos through data collection in relating to the location, list price, sale price, and the number of days it’s on the market prior to being sold. Gulf View classification is a result of a condo being located on the Gulf of Mexico. A No Gulf View classification is due to being located on the bay or a golf course that is not actually on the Gulf. The sample data collected is from the Multiple Listing Service that’s located in Naples, Fl. It contained the sales data of 40 Gulf View condos and 18 No Gulf View condos. For the first two parts of the managerial report, the use of appropriate descriptive statistics is needed to summarize each of the three variables for the 40 Gulf View condos and the same goes for the 18 No Gulf View condos. Based on the data, Gulf View condominiums have a higher average listing price at $474,007.50 than No Gulf View condominiums at $212,805.56. GV condominiums also have a higher median listing price at $437,000 than the NGV condominiums at $212,500. In regards to sale price, the GV are higher in average sales price at $454,222.50 when compared to NGV at $203,188.89. GVs are also higher in median sales price at $417,500 in comparison to NGVs at $203,500. The data indicates...
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