Property types refer to the various classifications of real estate, which can include residential, commercial, industrial, and agricultural properties. Each category serves different purposes and has unique characteristics that cater to specific needs and markets. Understanding property types is essential for buyers, sellers, and investors alike. For instance, single-family homes are designed for one family and typically offer more privacy, while commercial properties are used for business purposes and can generate income. Knowing the differences helps individuals make informed decisions in the real estate market.