Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Are Markets Specific Cities or States?

31 Aug 2026 · 1 min

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Christian Osgood explains that real estate markets are defined by geography and shared fundamentals. Stephenville with 30,000 people and Abilene with 180,000 are each their own market, while Dallas splits into sub-markets like Northeast and Southeast that operate independently.

When you say markets, are you saying like specific cities or just like the state?
Markets would be specific cities or areas. In a large city, it would be a submarket. In a smaller city, Stephenville is a market. It's a 30,000-person— Abilene is a market. It's about 180,000 people, but it's its own individual market. Northeast Dallas and Southeast Dallas are completely different markets that operate differently. A market is generally— it is an area where you have the same investors, the same people, and the same fundamentals. You're competing with the same people in the same place for the same deals. That is a market.