The Mendoza Line – Essential Real Estate Statistics

I was always interested in statistics as a kid. Mostly baseball stats. The homerun leaders, batting average, earned run average. Today baseball statistics run much deeper such as OPS or VORP (value over replacement player).

The dreaded statistic (although still a simple statistic) is called the Mendoza Line, named after Mario Mendoza. Poor Mario was a journeyman baseball player for the Pittsburgh Pirates, Seattle Mariners, and Texas Rangers. He played 9 seasons despite being a dreadful hitter with a lifetime .215 batting average. He was so bad that the “Mendoza Line” was named in his honor for any player who has a batting average below .200. And if you know nothing about baseball, a .200 hitter or below is just the worst. In golfing terms, it’s like shooting a 128 or seeing the stock market drop 2,000 points in a day, or our family rating of my Mom’s dry meatloaf (she does make a good Stouffer’s green bean casserole though).

So, when I wanted to seriously redesign the header to the ECHO homepage and add major pertinent statistics to our website, it’s funny that our website designer, Jon Mendoza, was the one who carried it out. We’ve always had deep dive statistics for any individual community. Check out PGA National for example. There are statistics at the top and if you scroll down any of these individual pages, much deeper stats that will help when buying, selling, and understanding the market. The advantage of our site is that we are local and can go in depth into the area because we know it like the back of our hand.

The idea though for major statistics was to have a 1-stop hub for statistics that you can check out anytime. These statistics are all the main numbers I always go through with a client in helping to see the big picture of the marketplace. So, why not give them to you directly? When you go to the top of the homepage (yes, click it and see), you will now see statistics on the latest real estate numbers. If you click into the statistics, you’ll be able to look at historical statistics. The daily mortgage rate, population data, days on market, pending sales, closed sales, active inventory, months of inventory, medium sales price, and dollar volume are all included. You can click here to see the statistics homepage.

This is the first roll out and over time, you’ll see lots of new additions to this page. Right now, it’s only single-family homes. Condos and Townhomes will come later. Month Over Month Statistics will be added. The entire header of the statistics will be on every page, although it’s just the homepage right now.

We included Palm Beach County, Martin County, St. Lucie County, Indian River County, Miami Dade County, and Broward County. You can flip between any of those at any time. You can also change the timeline when looking at historical graphs within each graph. Some have statistics like mortgage rates and population that go back 50 + years and will tell you the entire story. Right now some of the settings in how we are presenting everything can be improved. There is a glitch on the statistics home page on mobile in that the only way to switch to switch from Palm Beach County to another county is through the actual home page. We will have that roll out fixed next week. You can switch to other counties on desktop easily. Hopefully, we hit a home run with our statistics, and our Jon Mendoza will be known for something far better than poor Mario Mendoza!

Jeff Lichtenstein, originally from Chicago, got his start in the home furnishings textile business where he traveled over 35 weeks a year selling fabrics. After the family business was sold, Jeff moved to Florida and became a real estate agent. Today he is the owner and broker of Echo Fine Properties, a luxury residential brokerage voted best brokerage of the year. Jeff manages a non-traditional model of real estate that mimics a traditional business model. Echo has 80 agents, an average of one million dollars per transaction and over 500 million in annual sales. Between traveling for work and annual family trips to national parks with his wife and 2 now adult children, Jeff has visited 49 states. He is also one of the few Chicago White Sox fans you’ll ever meet. Some publications he has been quoted in.

Author of business & leadership book How Making a Sandwich Can Change Your World – The Amazing Success of the PB&J Strategy – Available to Buy Now!

Feel free to ask him a question directly at [email protected] including a complementary valuation of your home.

Posted in Open House Blog, Real Estate Tips on October 27, 2023 at 11:07 am.

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Days on MarketDOM

35Days | 13%

Active InventoryAI

5,066 Homes | 31%

Median Sales PriceMSP

$640,000 | 11%

New ListingsNL

1,777 Homes | 2%

Closed SalesCS

1,226 Homes | -16%

Dollar VolumeDV

$1.5B | 13%

Months of InventoryMOI

4.4 Months | 38%

Pending SalesCS

1,463 Homes | -8%

The Mendoza Line – Essential Real Estate Statistics