In this project, I leveraged Power BI to analyze house prices using the same dataset I previously worked with in Python. This analysis dives deep into key real estate trends, including average house prices, bedroom and bathroom distributions, waterfront properties, and the impact of condition, grade, and view on pricing. By visualizing and breaking down these factors, I aimed to make the data more transparent and easy to understand. Check out my findings to see how these variables influence home values.

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General Statistics

The average house has 3 bedrooms, 2 bathrooms, and an average price of $500,000 with a 2,000 sqft living area. Around 50% of houses have one floor, 47% have two floors, and only 3% have three floors. 99.2% of houses do not have waterfront access, while only 0.8% do. The second quarter of the year records the highest number of house sales.

House Price Segmentation

Most Expensive Houses

Houses in this category have an average price of $3.2 million. Only 102 houses fall into this range, with 32 featuring waterfront access. Houses with waterfront in this range have an even higher average price of $3.4 million. These properties typically have an average grade of 11, 4 bathrooms, 4 bedrooms, and an average living area of 5,520 sqft. 80% of these houses have two floors, 18% have one floor, and 2% have three floors.

Expensive Houses

The average price in this category is $1.4 million, with 1,382 houses. 72 of these houses have waterfront access, increasing their average price to $1.67 million. These houses typically have a grade of 9.5, 3.1 bathrooms, 4 bedrooms, and 3,500 sqft of living space. 62% have two floors, 27% have one floor, and 9% have three floors.

Average-Priced Houses

This category includes 15,000 houses with an average price of $553,000. 56 houses in this group have waterfront access, raising their price to $667,000. These homes typically have a grade of 7.73, 2.16 bathrooms, 3 bedrooms, and 2,100 sqft of living space. 46% have two floors, 51% have one floor, and 2% have three floors.

Low-Priced Houses

This category also includes 15,000 houses, but with a much lower average price of $240,000. Only 2 houses have waterfront access, significantly increasing their price to $670,000. These houses have a grade of 6.6, 1.62 bathrooms, 3 bedrooms, and 1,400 sqft of living space. 72% of these houses have one floor, 26% have two floors, and only 0.6% have three floors.

Deeper Insights

Luxury Homes Over $1 Million

Houses priced above $1 million fall into two categories: Expensive and Most Expensive. Most expensive houses have larger living spaces and better conditions. Interestingly, waterfront access does not always determine price, as even homes without a view can be highly priced due to their size and condition. Homes in the expensive category tend to have slightly lower bathroom counts, smaller living areas, and average conditions compared to the most expensive ones.

Impact of Living Area on Price

There are only 28 houses with a living space of over 7,000 sqft, with an average price of $3.4 million. This highlights how crucial living space is in determining house prices.

Why Are Some Houses Cheap?

Low-priced houses are not just cheap due to small living areas but also because 97% of them have no view. Even with the same number of bedrooms, houses with a better view and higher grade see a significant price increase.

Effect of Grade and Condition on Price

Houses with a grade above 10 and no view have an average price of $1.8 million with an average living area of 3,850 sqft. Those with a view and a grade above 10 are priced higher at $2.6 million, with an average living space of 4,550 sqft. Only four houses in this category exceed $6 million, causing a slightly higher average.

Waterfront and Multi-Floor Homes

Houses with waterfront and two floors have an average price of $1.9 million and 3,500 sqft living space.

The Relationship Between Price, Grade, Condition, and View

Houses with excellent views and very good condition have an average price of $1.5 million. Houses with a good view and good/average condition are still expensive, averaging $1 million. Houses with no view are priced significantly lower, averaging $500,000. Another chart shows that houses with excellent views tend to have the highest grade. Waterfront houses with two floors are priced at around $1.9 million, while non-waterfront houses with the same features are almost half the price. The average price of houses with excellent condition is $600,000, while those with poor or fair condition average only $200,000.

Final Thoughts

This Power BI analysis highlights the significant factors affecting house prices, including floor levels, waterfront access, grade, condition, and view. The insights provide a detailed breakdown of how these elements contribute to property value, making it easier to understand real estate trends. This project not only demonstrates my Power BI skills but also presents a structured and in-depth look into the housing market.