Enhanced Market Statistics API Includes Listing and Sales Data

Thao Tram Ngo

18 Dec 2024

Local Logic Market Statistics API update

At Local Logic, we’ve built the industry’s largest location dataset to empower real estate professionals and homeseekers with unparalleled insights into neighborhoods and markets. Today, we’re excited to expand on that vision with the latest update to our Market Statistics API. 

This enhancement not only deepens our data offering but also sets the stage for new products launching in Q1 2025, including Neighborhood Market Reports and expanded neighborhood capabilities. By presenting market activity data in dynamic formats, we’re making it easier than ever to gain a comprehensive understanding of any location.

A quick refresher on our Market Statistics API

Our Market Statistics API empowers brokerages, MLSs, proptech startups, and their users with detailed insights into local real estate trends. It provides relevant data to help homeseekers make informed decisions about potential listing locations and neighborhoods by summarizing key metrics like median prices, square footage, price per square foot, and construction year. 

Whether exploring affordability, comparing asset types, or identifying market trends, the API equips users to evaluate options with confidence, improving lead quality, user engagement, and service value. With data sliced by asset type, bedroom count, and transaction month, our Market Statistics API transforms complex real estate information into clear, actionable insights.

We’ve now updated our Market Statistic API to expand our in-depth analysis of market activity in neighborhoods and cities across the United States.

Our enhanced Market Statistics API includes:

  • Listing data integration: Now includes active, pending, listings under contract, and new listing counts in addition to sales data.
  • Daily data updates: We’ve moved from weekly to daily data updates, so you can always get the latest snapshot of the market.
  • Improved usability and implementation: Our new Market Statistics API is now easier to use and implement thanks to your feedback.

Enhanced Market Statistics API incorporates Listing and Sales Data

As part of this update, we are incorporating listing data into the API and moving from weekly to daily updates of our statistics, allowing you to always get the latest snapshot of the market.

Additional statistics that are available include:

  • Listing data metrics: Active listings count, pending listings count, listings under contract count, and new listings count
  • Active listings’ median age
  • Home sales price: Minimum asking price, median asking price, maximum asking price, detailed percentile breakdowns on asking prices, and median asking price per square foot
  • Absorption rate
  • Market conditions assessment
  • Market speed: Median days on market, median days to offer, and detailed percentile breakdowns of days to sell

What does this mean for homeseekers and real estate professionals?

For homeseekers, the Market Statistics API means clarity and confidence in decision-making. They can compare neighborhoods, understand affordability, and track market trends tailored to their specific needs — whether evaluating price per square foot or analyzing the trajectory of home values over time. This data helps them narrow down options to areas that fit their budget and lifestyle, ensuring they choose a location with both current and future value in mind.

This API is a game-changer for driving engagement and lead quality for real estate professionals, including brokerages, MLSs, and proptech startups. By offering homeseekers intuitive, data-driven insights, professionals position themselves as trusted local experts. The ability to educate clients with reliable market statistics not only enhances the user experience but also builds stronger relationships, attracts new audiences, and ultimately, converts more leads into sales.

Stay tuned for more updates as we roll out new products, like Neighborhood Market Reports and the upcoming Market Statistics SDK, which will provide recent market activity data to enhance solutions like NeighborhoodWrap with even deeper insights!

🏡 Grow your business with location insights
Get in touch with our team to see how our solutions can benefit you.