Analysis of Third Quarter Numbers Shows a Mixed Bag of Treats
LISLE, ILLINOIS (October 31, 2013) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), reported today that its analysis of recent transaction data for 2013 uncovered some notable metrics. While it is no secret that this year has produced a remarkable volume of real estate business, there were significant productivity shifts for offices, brokers and agents in MRED’s marketplace.
The third quarter numbers included:
– over 75,000 closed transaction sides, more than double the amount from the first quarter of 2012;
– over 3,500 producing offices averaged over 21 transaction sides;
– producing agents averaged almost 4-1/2 transaction sides, down from the previous quarter’s average of 5-1/2;
– an increase of 1,200 agents, yet over 4,000 more agents closed transactions than did in the 2nd quarter;
– a year-over-year transaction side increase of almost 18,000, a 31% increase;
– 17,112 producing agents had transaction sides , up 30% over the 2nd quarter; and
– 14 individual agents who closed over 100 transaction sides – just in the third quarter!
Comparing the 2013 year-to-date figures to the same period a year ago shows that:
– there has been a 28% increase in transaction sides; and
– the average number of sides per producing office increased 24%.
“This September’s slowdown was typical for this time of year, even though it was the best September since 2006,” said MRED CEO Russ Bergeron. “The big difference is that more people are becoming actively engaged. What may seem like a major slowdown is actually a flattening of the curve. We have more agents in the marketplace with a higher percentage of them completing transactions. It only seems like there’s less candy in each bag this Halloween.”
Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 40,000 brokers and appraisers and 8,000 offices. MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana. MRED delivers over twenty products and services to its customers, complementing connectMLS™, the top-rated MLS system in the country per the latest WAV Group MLS Technology Survey. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association. For more information please visit MREDLLC.com.