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Glossary
Mapping GIS software
Computer-mapping programs that perform any of a wide variety of map-making tasks (for both on-screen and file-oriented use).
Marketability
The ability to sell or lease a property quickly. Marketability deals with the appeal and demand for a property, good, or service.
Market area
A geographical area in which supply and demand operate to influence the course of industrial and commercial activities, for example, a Metropolitan Statistical Area (MSA).
Market adjustments
A change in market parameters or conditions brought about in response to one or more market signals (including price changes from shifts in supply and demand); typically characterized as cycles, fluctuations, or trends (categories that differ in terms of cause, duration, and impact on commercial real estate markets).
Market analysis
The process of examining market supply and demand conditions, demographic characteristics, and opportunities; identifying alternative locations/sites that meet specific objectives or satisfy various criteria; and assessing the financial feasibility of those locations/sites to facilitate decision making regarding the commercial potential or suitability of various locations/sites to support a given activity or use.
Market data
Information/data collected and displayed for a given market or by market area.
Market data approach
A method of determining the property’s value by analyzing recent sales or rental prices of comparable properties.
Market dynamics
In reference to changing market conditions and the underlying processes responsible for creating change and defining/redefining interrelationships amongst components in an economic system (consider the change in price levels of a given commodity as an outcome of the forces and interplay of supply and demand).
Market feasibility
Pertaining to the evaluation or selection of a site or an analysis of a site's highest and best use. Also see feasibility analysis.
Market gap
The demand for space minus the supply of space for a specific type of commercial property in a given real estate market. Also see general market area gap analysis.
Market opportunities
Advantageous circumstances in a market which facilitate a given action or outcome that is generally viewed as favorable from a money-making standpoint.
Market pricing
The pricing of commodities (including rental rates of various types of commercial properties) as determined by the forces and factors of influence operating in a market.