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Category Archives: MRED in the News

Livingston County Board of Realtors® joins MRED

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Please join all of MRED in welcoming the Livingston County Board of Realtors® (LCBR) as our newest association partner. Growing our marketplace aligns with our pursuit of continually improving MLS data, offering brokers the very best in functionality and service.

As the fifteenth Realtor association to join MRED, we are thrilled to help LCBR benefit from our extensive line of products and services. Our best-in-class multiple listing service connectMLS currently offers more than 85,000 active listings.

We’re excited to begin LCBR’s transition process to connectMLS. This conversion will not cause any disruption to the services MRED currently provides.

LCBR President Jill Thompson, Association Executive Gina Manker, and their fantastic team will continue to operate in central Illinois’ Livingston County, the fourth-largest county in the state and the twenty-second county in MRED’s service area. LCBR covers the county’s nearly 40,000 residents in 15,000 households across 16,000 housing units.

Thank you for being a part of the growing MRED family!

We’re always ready to help answer any questions you have. You can contact MRED’s Help Desk at 630-955-2755 or send us an email.

MRED welcomes new realtor association, expands service area

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MRED is thrilled to welcome the Bloomington-Normal Association of Realtors® (BNAR) as our newest Association partner. The addition of BNAR is part of MRED’s pursuit of improving offerings and expanding reach to provide brokers with the very best in functionality and service.

Bloomington-Normal becomes the fourteenth realtor association to join MRED and benefit from our game-changing line of products and services. That includes the best-in-class multiple listing service connectMLS containing more than 85,000 active listings.

BNAR’s transition process to connectMLS is already underway and going smoothly. There will be no disruptions to the services MRED provides to current associations and their members.

Bloomington-Normal supplies resources to real estate professionals in central Illinois’ McLean County, the largest county in the state by land area. Founded in 1921, BNAR covers the county’s 170,000 residents in 65,000 households across 70,000 housing units. Bloomington-Normal President John Armstrong, Association Executive Diane Cote, and their wonderful team will continue to serve their members well as an MRED Association partner.

Join us in welcoming the Bloomington-Normal Association of Realtors® to the MRED family!

We’re always ready to help answer any questions you have. You can contact MRED’s Help Desk at 630-955-2755 or send us an email.

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Midwest Real Estate Data Announces Hiring of New CTO Chris Haran

Chris Haran
LISLE, Ill., Mar 14, 2018 – Midwest Real Estate Data is pleased to announce industry veteran Chris Haran will be joining MRED as its Chief Technology Officer (CTO).

Haran comes to MRED from real estate franchise Coldwell Banker, where he served as Vice President of Field Operations. In this executive role, Haran led the company’s strategic efforts as well as organic growth and marketing initiatives. Haran started out in entry level marketing at Coldwell Banker in 2006, working his way up to management positions before starting his Operations VP role in 2015.

This opportunity gave Haran firsthand experience with MRED, as he served on its Board of Managers from 2015-2017. During this time, Haran represented MRED on the Board’s Technology Focus Group. These experiences and more made Haran an ideal candidate to thrive in this vital role.

“Being a pioneer of technology is of the utmost importance to MLSs and I know that Chris is the perfect person to keep MRED at the forefront and push us ahead even farther.” said MRED President/CEO Rebecca Jensen. “Bringing in Chris is a huge milestone for MRED and our customers.”

Haran is a 2005 graduate of Illinois Wesleyan University. He also spent time as a mentor for the National Association of REALTORS® REach program as well as Moderne Ventures, advising startup companies on business plans.

At MRED, Haran will create and implement the strategic vision of technology, a prospect that excites the Illinois native.

“This opportunity is the perfect way to make the most of my passion for emerging technologies and connecting people, ideas, and resources,” Haran said. “MRED is doing big things and I can’t wait to be a part of that.”

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 over 7,300 offices. MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin, and northwest Indiana. MRED delivers more than 20 products and services to its customers. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for nine consecutive years the MRED Help Desk has been identified as one of the best small business centers in North America by BenchmarkPortal. For more information please visit MREDLLC.com.

Contact:

Jeremy Sharp
Midwest Real Estate Data LLC
jeremy.sharp@mredllc.com
630-799-1402

MRED Chicagoland Report for June, 2017

There has been a general slowdown in sales across the country, and this cannot be blamed on negative economic news. Unemployment remains low and wage growth, though nothing to overly celebrate, has held steady or increased for several years in a row. There is strong demand for home buying, emphasized by higher prices and multiple offers on homes for sale in many submarkets. As has been the case for month after month – and now year after year – low inventory is the primary culprit for any sales malaise rather than lack of offers.

New Listings in Chicagoland were down 0.9 percent for detached homes but increased 6.5 percent for attached properties. Listings Under Contract increased 11.4 percent for detached homes and 4.9 percent for attached properties.

The Median Sales Price was up 4.9 percent to $257,000 for detached homes and 5.1 percent to $208,000 for attached properties. Months Supply of Inventory decreased 18.2 percent for detached units and 18.4 percent for attached units. With job creation increasing and mortgage rates remaining low, the pull toward home ownership is expected to continue. Yet housing starts have been drifting lower, and some are beginning to worry that a more serious housing shortage could be in the cards if new construction and building permit applications continue to come in lower in year-over-year comparisons while demand remains high.

Home builder confidence suggests otherwise, so predictions of a gloomy future should be curbed for the time being.

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.

MRED Chicagoland Report for April 2017

The employment landscape and wages have both improved over the last few years, allowing for more people to participate in the home-buying process. When the economy is in good working order, as it is now, it creates opportunities in residential real estate, and right now is a potentially lucrative time to sell a home. Houses that show well and are priced correctly have been selling quickly, often at higher prices than asking.

New Listings in Chicagoland were down 8.9 percent for detached homes and 5.0 percent for attached properties. Listings Under Contract increased 1.5 percent for detached homes but decreased 0.2 percent for attached properties.

The Median Sales Price was up 7.8 percent to $242,500 for detached homes and 2.8 percent to $205,000 for attached properties. Months Supply of Inventory decreased 19.4 percent for detached units and 20.7 percent for attached units.

Although there is a mounting amount of buyer competition during the annual spring market cycle, buyer demand has not abated, nor is it expected to in the immediate future unless something unpredictable occurs. While strong demand is generally considered a good problem to have, it creates an affordability issue for some buyers, especially first-time buyers. And yet, prices will continue to rise amidst strong demand.

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.

MRED Chicagoland Report for January, 2017

January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase.

New Listings in Chicagoland were down 1.1 percent for detached homes but increased 7.6 percent for attached properties. Listings Under Contract increased 18.6 percent for detached homes and 14.4 percent for attached properties.

The Median Sales Price was up 7.7 percent to $210,000 for detached homes and 7.7 percent to $175,500 for attached properties. Months Supply of Inventory decreased 21.5 percent for detached units and 24.1 percent for attached units.

In case you missed it, we have a new U.S. president. In his first hour in office, the .25 percentage point rate cut on mortgage insurance premiums for loans backed by the Federal Housing Administration (FHA) was removed, setting the table for what should be an interesting presidential term for real estate policy. FHA loans tend to be a favorable option for those with limited financial resources. On a brighter note, wages are on the uptick for many Americans, while unemployment rates have remained stable and relatively unchanged for several months. The system is ripe for more home purchasing if there are more homes available to sell.

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.