Case Study | Christina M Durta CHFP CPA MST
Free interactive analysis of real estate sales in Bay County, FL during 2015 by tax district. Report and graphs allow reader to view, interact with, and download the underlying data. Tax Districts: Callaway, Lynn Haven, Mexico Beach, Panama City Beach, Panama City, Parker, Springfield, Panama City DIB, Beach Mosquito, County Mosquito
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Case Study

Bay County, FL Real Estate Sales Analysis and Data Visualization

Analysis of qualified real estate sales and just values used for property taxes in Bay County, Florida using computer assisted audit techniques and data visualization software. Public data was mined from the online information provided by the Property Appraiser’s office using web data extraction software, filtered with ACL Analytics, and presented in an interactive format with Tableau Public.

 

During 2015, there were over 13,000 transfers of real property in Bay County. This study focused on only “qualified sales”, meaning those that were an arm’s length transaction between unrelated buyers and sellers. 4,622 sales met the criteria to be included in the sample and were examined to answer the following questions:

 

  • How many qualified sales were in each tax district?
  • How many were improved vs vacant?
  • How many were homestead vs. not?
  • What types of properties were sold?
  • When did the sales occur and what is the trend?
  • Where did the buyers come from?
  • How much did the properties sell for?
  • When were the properties built?
  • What is the size of the buildings?
  • What is the size of the lots?
  • Are the just valuations used for property tax purposes reasonable?
  • Was there a gain or loss on the sale of the properties?

 

The case study includes a discussion of the analysis process and methods. The results are shared in a dynamic format that allows the reader to view, interact with, and download the underlying data. Using these advanced technologies, reporting is elevated by allowing the audience the opportunity to make their own discoveries beyond what is presented.

Case Study Bay County FL Real Estate Analysis ACL Analytics Tableau PublicThe entire case study with detailed explanations, graphs, map, and spreadsheets with the results broken down by tax district. It is recommended that you start here so you will understand the purpose, scope, and results of the study before diving into the data.  The graphics will be easier to understand after you are familiar with the criteria and methodology used.

 

Read the Full Report

Bay County Florida Real Estate Sales Case Study

Over 20 different graphs, tables, and maps to explore, share, or embed on your website (all free). View, interact with, and download the underlying data. Hover over the graphic to see additional information about the sales. BEST VIEWED ON A COMPUTER.

 

The graphs can also be filtered to view specific information, for example sort by particular tax district, property type, or month sold, etc. If you click on a selection, you will see a mini spreadsheet icon to the right. This will take you to the detailed records. Select the tab that says see the “full data” or “underlying data” and check the box to “show all columns” to see all of the data fields on the parcels. You are then given the option to download the records.

 

In April 2016 there will be free public webinars providing a guided demonstration of how to get the most of the online features, as well as a backstage look at the data analytics in action.

 

Play with the data

County-Wide Fast Findings

  • 4,622 Qualified Sales
  • 90% were improved properties
  • 81% were non-homestead (may be due to timing)
  • 55% of the sales occurred in the Panama City Beach tax districts
  • 67% of the buyer’s mailing addresses were from various parts of Florida
  • Georgia, Alabama, Tennessee, and Texas followed respectively
  • 53% were single family homes; 28% condos; and 11% vacant land
  • 93% were under $400,000; 82% under $300,000
  • Average sales price was $214,458; $121.44 per sq. ft.
  • Median sales price was $180,000; $101.93 per sq. ft.
  • Average year built was 1998
  • Average size was 1,766 sq. ft. with 83 x 149 lot
  • 2016 Just Values are 81% of market
  • FL Department of Revenue recommends just value be 85% of market
  • 1,864 parcels had both the current and prior sale qualified
  • Of those, 70% had a gain; 30% a loss
  • Average annual return was 1.5% (one and a half)
  • Highest returns were in Unincorporated County and Callaway
  • Single family and mobile homes had gains
  • Multi-family, condos, and vacant residential land had losses

Thank you to the good people of Historic Millville where all the photos for this report were taken.