The Redfin study is a perfect example of why Maponics’ school attendance zones are so vital in real estate.
White River Junction, VT (PRWEB) October 10, 2013
Maponics, a leading geospatial data provider, announced today that their school attendance zone boundaries, part of their School Boundaries dataset, were used to power a study conducted by Redfin, an online real estate brokerage.
The Redfin study found that home prices in school attendance zones (SAZs) with top performing schools were more costly by up to $500,000 than those in SAZs with lower performing schools.
The study examined home sales listed on the MLS between May 1 and July 31, 2013. It tracked median sale price and price per square foot of properties sold. The study included 10,811 elementary school zones, provided by Maponics, across 57 metro areas and looked at 407,509 home sales.
Every metro region in the study had higher prices for homes served by top performing public elementary schools. The study found that on average, people pay $50 more per square foot for homes in top performing school attendance zones compared with homes served by average-ranked schools. Homes in Coastal California showed the most disparity, and the study found pockets of affordability in Queens, NY, and Raleigh, NC.
“The Redfin study is a perfect example of why Maponics’ school attendance zones are so vital in real estate,” said Darrin Clement, CEO of Maponics. “Home values fluctuate wildly depending on which school attendance zone your property is in, which makes it difficult to find an affordable home and a top public school for your kids. I love to see real estate companies like Redfin using our data to uncover market trends that have a direct impact on homebuyers.”
Maponics School Boundaries are used by other real estate enterprises. These include realty portals, which use Maponics school data to aid in search and display for homebuyers, and property data providers, who use Maponics data to enable real estate appraisers to estimate property values.
Maponics provides additional datasets to the real estate industry, including Neighborhood Boundaries, ZIP Code Boundaries, Subdivision Boundaries, Parcel Boundaries and Canadian FSA Boundaries. Maponics’ suite of geospatial analytics, Context™, enables revolutionary insight into local character by syncing lifestyle and behavioral analytics to these boundary datasets, revealing neighborhood crime levels, walkability ratings, demographics and other useful data.
Maponics’ School Boundaries cover 100% of US school districts and public and private school locations. With the release of Maponics’ School Boundaries v1.13.3, the geospatial data provider reached coverage of 80.2% of student population in areas covered by their school attendance zones. School Boundaries now cover 84.5% of the high school population.
“We’ve been providing school attendance zone boundaries since 2010 – and we were the first to do so,” said Mark Miller, School Boundaries Product Manager. “School data is absolutely vital for estimating home valuation, as we see from Redfin's report. As the school data experts, we want to ensure our real estate customers have the most accurate and complete coverage possible.”
To learn more about Maponics School Boundaries, visit maponics.com, email info(at)maponics(dot)com or call (800) 762-5158.
Maponics is the leading provider of premium-quality, geospatial data and analytics that underpin today's location-based applications and services. Maponics creates geographic boundaries for areas where people spend their time and money, such as neighborhood boundaries, shopping boundaries, ZIP Code boundaries and school boundaries. Customers include many of today's best-known web, social media, mobile and real estate brands, including over 70% of the top real estate websites. 95% of all consumers who use social media interact in some way with Maponics data. The company is headquartered in Vermont. To find out more, visit maponics.com or call 1-800-762-5158.
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