Market Studies: “The general conditions of the market which include supply and demand, demographics of the area as they relate to the subject property and/or sector of a specific community or region.”

Market studies may be required to analyze the highest and best use of a property, the marketability of a specific class of building, the marketing time of a property, the demand that exists within the current market, the costs required to generate a profitable venture, a property’s ability to capture its market share.

Basically, market studies are a detailed analysis of market and demand factors that are then adapted to a specific property.

• The feasibility of constructing retirement and assisted living facilities
• The profitability of taking back troubled residential subdivisions by investors
• The highest and best use of vacant land