Understand Your Real Estate Market Makeup. API Product Release 0.5.0 Blog

April 18, 2023
min read
Understand Your Real Estate Market Makeup. API Product Release 0.5.0 Blog

0.5.0 API Update: Inventory Breakdown, 36 New Cities and Updated Markets Endpoint

We are excited to announce the latest update to our API product with version 0.5.0! In this version, we have introduced several new features and enhancements to provide our users with even more robust and comprehensive data for their real estate needs, including a new inventory breakdown endpoint and 36 new markets to the API.

Introducing the Inventory Endpoint

With the Parcl Labs API, you can now query the physical representation of the Parcl Labs Price Feed.

Until today, finding accurate and up to date housing stock information in a given market was difficult due being forced to use to disparate and lagged data sources. With our new inventory endpoint, users can now query and retrieve the housing inventory in any of our supported markets broken down by condo, townhouse, and single-family residence. This is a new feature, in addition to the existing market details endpoint which contains the transaction percentage breakdown by property type in all supported markets.

Users can access this data today by navigating to the inventory endpoint docs and plugging in a Parcl ID for any of the supported markets. The inventory breakdown of that market will be generated as a JSON:

No more guessing or relying on outdated data. Our inventory endpoint provides you with the most current and accurate information, enabling you to make informed decisions with confidence. Experience the power of real-time insights with our inventory endpoint and stay ahead of the competition in today's fast-paced real estate market.

How can you access it?

The inventory endpoint is accessible at the Parcl Labs documentation site. If you need to register for an API account, start here with our Quickstart guide.

Overview of the metrics returned by the API endpoint

  1. Townhouse: Total number of current distinct owner occupied townhouses in a given Parcl.
  2. Single Family Residences: Total number of current distinct owner occupied single family residences in a given Parcl.
  3. Condo: Total number of current distinct owner occupied condos in a given Parcl.
  4. Total Units: Total number of current distinct owner occupied units in a given Parcl.

Use the Inventory Endpoint to break down Existing Housing Inventory

The inventory endpoint is a valuable tool for analyzing current housing market inventory - in real time. By providing users with detailed data on the current stock of housing inventory broken down by different types of units, such as single-family homes, condos, and townhouses, this endpoint allows for in-depth analysis of supply and demand dynamics. Users can access inventory data across different markets to identify regional patterns and trends.

Updated Price Feed Stats Endpoint

We have also made significant updates to the price_feed_stats endpoint to provide users with more comprehensive statistics. The updated endpoint now includes additional statistics such as 180-day dollar change, 180-day percent change, 365-day dollar change, and 365-day percent change. Additionally, the parcl_id has been included in the response object, making it easier for users to identify the specific Parcl for which the statistics are provided.

The new response object for the price_feed_stats endpoint looks like this:

Introducing 36 New Markets

As part of this update, we are excited to introduce 36 new Parcl Price Feed markets. These new markets cover a wide range of locations across various states in the United States, providing users with even more options for accessing real estate data most relevant to them.

The new city markets are identified by their Parcl IDs, location types (e.g., CITY), names, and states:

Updated Markets Endpoint

We are excited to announce an update to our Markets endpoint, which now includes two optional parameters for filtering results: state_abbreviation and location_type. With these new parameters, users can refine their search by state abbreviation and location type of the desired Parcl (e.g. CITY, MSA, COUNTY, Micro Area), allowing for more precise and customized searches.

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