New Tool Allows Street-Level Real Estate Deal Search
Translated & summarized from Bizportal by baba
A new real estate search tool allows users to find property transactions by street, distinguishing between whole and partial apartment sales. On Tel Aviv's Ibn Gabirol Street, the median price for whole apartments over three years was 4.62 million shekels, compared to 3.35 million for all deals including partial interests. The tool aims to provide more accurate data for negotiations and appraisals by excluding partial sales from median calculations. It covers 621 localities and offers various filtering options, though it notes limitations such as missing data on apartment condition and floor level.
The story in 6 lines · by baba
- A new tool enables street-level real estate transaction searches, differentiating whole from partial sales.
- On Tel Aviv's Ibn Gabirol Street, whole apartments sold for a median of 4.62 million shekels, 38% more than all deals.
- Approximately 37% of Tel Aviv transactions in the past year were for partial property interests.
- The tool calculates medians using only whole apartment sales and flags partial sales in red.
- It covers 621 localities and includes features like automatic street name completion and filtering options.
- Data limitations include the absence of floor, condition, or parking information for properties.
A new tool has been launched that allows users to search for real estate transactions down to the street level, providing more granular data on property sales. On Ibn Gabirol Street in Tel Aviv, 104 apartment deals were reported in the last three years, with 46 of these involving the sale of a partial interest in a property rather than a whole unit. The median price for all 104 deals on the street was 3.35 million shekels. When excluding partial sales, the median price for the 58 whole apartments rose to approximately 4.62 million shekels, a 38% increase, with the price per square meter reaching about 68,800 shekels.
Nationally, about 37% of all transactions in Tel Aviv in the past year were for partial property interests, often occurring when couples or partners register separately or when heirs transfer portions of a property. The new search tool calculates medians based solely on whole apartment sales and flags partial sales in red, indicating the percentage sold. This functionality is crucial for appraisers and banks, which rely on comparable sales data, and provides buyers and sellers with a negotiation basis independent of advertised prices.
The tool covers 621 localities and offers features such as automatic street name completion, ignoring street type prefixes like 'Boulevard' or 'Street,' and narrowing searches by building number. It also accounts for spelling errors, suggesting similar street names, and can filter results by number of rooms, price, and time period from 2005 to the present. The system handles variations in street names, like 'Zhabotinsky' with or without a geresh, and can identify corner buildings registered under multiple addresses. It displays up to three addresses per parcel, meaning some transactions might only show addresses on intersecting streets.
Specific examples highlight the tool's capabilities. At Ibn Gabirol 160, a 62-square-meter apartment in a 1950s building sold for 3.35 million shekels, approximately 54,000 shekels per square meter. A 92-square-meter, three-room apartment in a corner building registered at Ibn Gabirol 23, 25 and Dizengoff 2 sold for 3.85 million shekels, about 41,800 shekels per square meter. A partial sale of a 78-square-meter apartment at Ibn Gabirol 172 for 1.8 million shekels was recorded but excluded from the median calculation for whole units.
Data limitations are also noted. The database lacks fields for floor, apartment condition, or parking, and addresses are derived from land registry data. Some new buildings may not yet have a registered address. In Haifa, on HaNavi'im Street, after filtering for whole apartments, 20 units remained with a median price of about 828,000 shekels, flagged as volatile. The tool also identifies and excludes improbable data, such as a projected 2025 price per square meter of 274,000 shekels on HaNavi'im Street, marking it as an outlier. The tool's annual graph for Ibn Gabirol shows a rise in price per square meter from about 44,300 shekels in 2020 to 57,900 in 2021, a dip to 51,100 in 2022, and a rise to 63,300 in 2025. Currently, only seven deals have been recorded for 2026, with a median of 46,800 shekels per square meter, which is insufficient to confirm a price trend and will remain grayed out until 30 deals are registered.
