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Real estate market analysis begins with the correct spatial delineation of the geographic market trade area. The less accurate the spatial delineation, the greater the error introduced into subsequent analysis such as calculation of competitive supply, demand and absorption. Advancements in geospatial technology provide for greater ease of execution of traditional methods of calculation of market areas; however trade area estimation methods have not changed along with advancements in geospatial technology. We bridge the gap between geospatial technological advances and analysts? needs for improved accuracy in spatially delineating trade areas. The solution requires a software interface that integrates complex statistical analysis with geospatial manipulation and visualization of geographic data. The algorithm is a composite of traditional methods and in that manner remains intuitive to decision makers. At the same time, because there are so many components to the algorithm, it would have been neither practical nor feasible to achieve the same accuracy as presented here with earlier technologies. The application is written in MapBasic. The executable MapInfo add-in can be downloaded and used by anyone with MapInfo GIS software on their Microsoft Windows based personal computer.
Ashish Patel
Graduate Student University of Florida
aspatelvt@gmail.com
Dr. Grant Thrall
Professor University of Florida
gthrall@cox.net
website
Dr. Timothy Fik
Professor University of Florida
fik@geog.ufl.edu
Trade
Area Analyst alpha version
? 2007, Ashish Patel, Gainesville FL. All rights reserved in the United
States and worldwide.
*Application needs a standalone version of MapInfo installed to run.
MapInfo Website
Application is available free to download. No user support is available for the application however send comments to aspatelvt@gmail.com
Without prior written permission this software and or algorithm may not be
resold. Without prior written permission this software may not be integrated or
distributed in any manner as part of or with commercial or non commercial
applications.
The authors of this algorithm and or application make no claims of
appropriateness of the algorithm or application for use. Responsibility for use
of the algorithm and or software application is entirely that of the algorithm
and or software user. The user of this software and or algorithm is solely
responsible for determining whether to proceed with using any of the software
analysis and reports, and the user of this software agrees that it will remain
solely liable for any use of this software and or algorithm. The authors of the
software and or algorithm do not represent or warrant that the software and or
algorithm provided will result in any benefits, and there can be no assurances
that such benefits will arise.
Manuscript
-Presented at the 2007 national meetings American Real Estate
Society
-American Real Estate Society Journal Manuscript Prize Winner
[$1,000]