The more positive unique attributes, the more that the market is insulated from commodity market situations. Consequently, my gut instinct is that, yes, Poway will be insulated to some extent from market conditions that affect other areas where schools have worse scores.
I think you raise an interesting question, which is what is the relationship of school scores to market time? What if we were to graph the data points using elementary school scores as the X axis and Days on Market or Months of Inventory on the Y axis.
As to what segment of the market, I think we might get the clearest picture of a relationship (if there is one), if we looked at the bottom 20% of the market for each area examined. This market is the most resilient to other market effects, and could give good comparison numbers.
Since it is easiest to sort the data by zip code, it would be best to take average school scores for all elementary schools in a zip.
Given how weird the market is right now, I don’t know what we might find. It could be that the least expensive sector in Vista is getting so much pressure due to risk aversion that it performs better than Poway’s least expensive sector. I have no gut instinct as to how the numbers would play out. At least we would be controlling for all the sellers that think they can sell their homes for top dollar. If the numbers came out by saying the best priced homes in a better school district sell, on average, faster than the best priced homes in a worse district, I think you’d have your answer. What do you think?
If you have an idea about what exact correlation might make most sense. Feel free to email me directly at temp7@gemhome.com.
