MAR Housing Data Makes Great Sales Tool

by Eric Berman, MAR Director of Communications | Nov 03, 2014
The Massachusetts Association of REALTORS® has been gathering data on the state’s home sales and prices for over 50 years. The evolution of how the housing data is compiled has progressed throughout the decades, yet remains an important tool for members to use to build business.
Compiling the data

The data has always been compiled using the Multiple Listing Service (MLS). The MLS itself dates back to the late 19th century in the US and it was formed by REALTORS®, according to NAR, to “orderly correlate and disseminate listing information among Participants so that they may better serve their clients and customers and the public.”

Years ago, data was compiled using the MLS books provided by each local Association in the state. Manually sales and dollar volume were totaled and reported quarterly. Roughly the same system of information dissemination still exists, but the compilation of and extent of data available to members and the public today is light years away from the turn of the 1960’s.

Now, data is collected from the three MLSs in the state by 10K Research, a wholly-owned subsidiary of the Minneapolis Area Association of REALTORS® that uses the highest level of technology to gather the raw data and produce reports and interactive products that provide great insight into the local housing markets.

The data collected from the three MLSs includes single family, condominium, and multi-family housing. The data is scrubbed for duplication and programmed to provide numerous, valuable pieces of information. Data counted compiles: New Listings,  Pending Sales, Closed Sales, Days on Market Until Sale (final and cumulative), Median
Sales Price, and Average Sales Price.

From the compiled data, a Housing Affordability Index is formed which measures affordability in each region of the state; Inventory of Homes for Sale which tallies homes that are active on the last day of the month, and, Months of Supply, which is an average of homes on the market in a capture of time.

And the result available to all members is a series of sharp, professional, state and local market reports to use in your listing presentations and to educate buyers, sellers, and yourself on the market. The reports available to download from marealtor.com are: Pending Sales Report by Region; Monthly Market Indicators (MMI), 13-page report; Multi-Family Housing Report by Region; and 351 individual town Local Market Updates (LMU).

MAR Housing Data is reported monthly for members to keep completely current on market conditions and is also available to the media as the resource of housing  statistics in the state. Help build yourself as the resource to your customers and clients and start using Local Market Data available at www.marealtor.com/housing-data.