MRED Blog

REinventing MLS . . .

Monthly Archives: October 2015

The Difference An Hour Can Make [Infographic]

MRED Hacking Away at the Land of Lincoln Hackathon

MLS Giant Helping to Promote the Illinois Open Data Portal

lambrouLISLE, ILLINOIS (October 21, 2015) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), is participating with the Chicago section of the Institute of Electrical and Electronics Engineers (IEEE Chicago) and other technology companies at the Land of Lincoln Hackathon, an event promoting the public data found at the State of Illinois open data portal.

The Land of Lincoln Hackathon looks to promote awareness of the great resources for the citizens of Illinois and foster innovation from the academic and professional communities. The 2015 Hack Challenge is for those who submit software solutions that creatively utilize the public data found at the Illinois open data portal. Prizes will be awarded at multiple levels: K-12, Collegiate, Professional, and a special “Women Who Code” award for teams that feature one or more women on their project (designed to help promote women in STEM).

Registration is now open for this month long event. A team of judges will award prizes to be handed out November 2nd at the IEEE Chicago Symposium @ Motorola Solutions Schaumburg Campus.

Chris Lambrou, MRED’s Vice-President of Special Projects/R&D, is Chairman of this year’s event. “It’s important to raise awareness of the State’s portal and bring the data closer to the consumer,” said Lambrou. “Events such as this give software developers the opportunity to utilize public data as a utility to innovate with and enhance the quality of life in the Chicagoland area.”

Sponsors for the event include MRED, IEEE and CVSHealth.

“We’ve had overwhelming support from the Chicagoland IEEE and tech communities.” said Vickie Peters, IEEE Chicago Chapter Chair. “The entire planning committee is excited about the process and can’t wait to view the apps that evolve from the Land of Lincoln Hackathon and interact with the development teams that submit.”

For more information about the Land of Lincoln Hackathon – visit http://ieeechicago.org/

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to more than 40,000 brokers and appraisers and nearly 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 for two years running according to the WAV Group MLS Technology Survey. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for five consecutive years the MRED Help Desk has been identified as one of the best small business centers in the United States and Canada by BenchmarkPortal. For more information please visit MREDLLC.com.

MRED Chicagoland Report for September, 2015

The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.

New Listings in Chicagoland were up 0.1 percent for detached homes but decreased 4.9 percent for attached properties. Listings Under Contract increased 19.5 percent for detached homes and 9.6 percent for attached properties.

The Median Sales Price was up 5.0 percent to $210,000 for detached homes and 6.1 percent to $175,000 for attached properties. Months Supply of Inventory decreased 19.1 percent for detached units and 17.8 percent for attached units.

With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen. It most likely will before year’s end. Until then, get out and enjoy the season.

MRED real estate professionals can log into MREDLLC.com and click on the Statistics tab to get the latest Lender Mediated and Monthly Market Indicators Reports.  You can also click on the Local Market Updates choice under the Statistics tab and use our Interactive Market Analytics map for the latest local market metrics.

Any questions?  Please contact MRED’s Help Desk at 630-955-2755 or help.desk@MREDLLC.com.

Where Will Home Prices Be Next Year? [Infographic]

Where Will Home Prices Be Next Year? [INFOGRAPHIC] | Keeping Current Matters

Some interesting facts:

  • 25 states are forecasted to achieve higher levels of appreciation in the next 12 months than already achieved in the last year.
  • 25 state and the District of Columbia are forecasted to experience a slow in appreciation.
  • All 50 states & D.C. are forecasted to achieve some level of positive price appreciation.

Even though each state is appreciating at different levels, you need to know the Cost of Waiting until next year to buy your dream home!

Blog Post via KCM Blog

#1 Reason to List Your House Today

#1 Reason to List Your House Today! | Keeping Current Matters

If you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years.

The graph below shows the significant increase in foot traffic experienced this year compared to 2014.

Foot Traffic Year-Over-Year | Keeping Current Matters

The latest Existing Home Sales report shows that there is currently a 5.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below August 2014 numbers.

The chart below details the year-over-year inventory shortages experienced so far in 2015:

Inventory Supply | Keeping Current Matters

Bottom Line

Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy today!

Blog Post via KCM Blog