Market Analysis is one of the early and critical stages of a full development project. It gives you the best idea possible on if your market or submarket is able to support your idea and potential project.

In Dr. Petersons LDEV 664, we learned that real estate is about 2 things, location and timing. Both things are incredibly important to creating a successful development project. Can the market support the project, in this area, and can it support us when the time comes to officially enter the market. This type of analysis will also answer the most important questions of your project. Is it legally permissible? Is it physically possible? Is it financially feasible? is it maximally productive? The answer to all 4 of these questions must be a sound yes in order for a project to succeed.

In LDEV 664 we did lots of analysis like this using a tool like ArcGIS, which in this map shows us the amount of people from each area that have gone to a Chipotle Mexican Grill in the past 6 months to see if the market could support and demanded another chipotle. Turns out about a year after this map was made, there was a brand-new chipotle in the College Station area. Doing this analysis showed me that there was indeed a need for a new chipotle, and it was backed by a Market Analysis.

I have also used Market Analysis almost every day that I have been working for HistoryMaker, from taking drives out to our communities to obtaining and analyzing data from Metrostudy/Zonda and MLS services. It is something that I truly enjoy and will use for the foreseeable future.