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Category Archives: MRED in the News
MRED Real Estate Brokers Partying Like It’s 2007
MRED Reports 2013 Sales Dollar Volume Largest in Six Years
LISLE, ILLINOIS (October 22, 2013) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), reported today that in both dollar volume and total transactions, 2013 is already the best calendar year in area real estate since 2007.
To date MRED sold real estate volume for 2013 totals over $24 billion resulting from nearly 103,000 closed transactions, surpassing all of 2012. MRED has not seen dollar or transaction volumes like this since 2007.
Chicago and the surrounding nine counties have experienced double-digit percentage gains from a year ago. The Chicagoland area has seen eight months of year-over year sales and median price gains. All indicators point in the same direction: a strong housing market.
“This confirms what we all already had a good sense of – real estate is back,” said MRED CEO Russ Bergeron. “The numbers don’t lie. Not only are Realtors® busier than they’ve been in years, sellers are benefiting from the hotter market with increased home values. Assuming nothing takes our economy wildly off track, I see nothing but a very positive future for those in the real estate industry and those who own real estate.”
About MRED
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
The Beat Goes On According to Midwest Real Estate Data (MRED)
July Numbers Consistent With Previous Months, Notable Trends Emerge
LISLE, ILLINOIS (August 20, 2013) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), announced today that, as in the past few months, the number of sold units remains high (11,970) and the inventory (56,083) and Months’ Supply of Inventory (3.1) numbers are still relatively low based on July, 2013, Chicagoland PMSA statistics.
Some encouraging signs from 2013 are:
- Since February we have seen the number of traditional sales almost triple.
- The percentage of traditional sales now equals 70% of all sales.
- The percentage of distressed sales has plummeted to less than 30% from an early year number of 49%.
This is all good news especially with some of the fears of a potentially significant rise in interest rates that have been projected but have not materialized.
There are some other notable trends in the numbers. Regarding short sales:
- Short sales are simply not experiencing the same effects from the housing recovery as the rest of the market.
- Contract-to-closing time for short sales continues to increase, with the July average at 136 days. That is a near 50% increase when compared to the 92 day average back in May 2011.
- When you pair that with the Average Market Time (from listing date to contract date) for short sales of 192 days the average short sale is now taking 328 days from listing to closing. Yikes!
Foreclosed or lender-owned properties (REOs) continue to sell more quickly than short sales or even traditional sales, coming in with an average market time of 82 days. Also,
- REOs that sold in less than one month are selling for 105.5% of list price.
- In other words, a full price offer may not be sufficient to secure a deal on newly listed REOs.
“While the continued high number of sales and low inventory are driving the market, what we’re seeing in the short sale and REO markets is also noteworthy,” said MRED CEO Russ Bergeron. “Short sales continue to sit on the market getting stale, as an ever-smaller percentage of buyers seem to want to deal with that hassle. In the meantime, REOs are going like hotcakes, creating the potential for bidding wars.”
“Good examples as to why not all lender-mediated properties are alike.”
About MRED
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. For more information please visit MREDLLC.com.
Midwest Real Estate Data LLC® Executes Data License Agreement with Realtors Property Resource®
Jul. 31, 2013 – LISLE, Ill. — Midwest Real Estate Data LLC (MRED) announced today that it has executed an agreement with Realtors Property Resource, LLC, a wholly owned subsidiary of the National Association of REALTORS®, to integrate MRED’s licensed MLS data with RPR’s national property database and website for their REALTOR® members.
“At MRED we strive to offer technological solutions to our customers that not only provide them with enhanced property information, but simultaneously promote professionalism to their clients and prospects,” said Russ Bergeron, MRED CEO. “RPR fits the bill on both counts. We look forward to having the full functionality of RPR available to all of our REALTOR® customers as soon as possible.”
“The RPR Application was created as a national database designed to work in cooperation with MLSs and Associations across the country,” says RPR CEO, Dale Ross. ”RPR’s parcel centric data base aggregates valuable data sets on over 160 million properties in the U.S. including tax assessment, public records, mortgages and liens, schools, flood maps, aerial and geo-point imagery and foreclosure data. RPR’s value proposition for MRED’s REALTOR® members is to aggregate that data with the local active and off market property information provided by MRED and repurpose that into high value features reports and valuation tools for REALTORS® to use with their clients and customers. We are truly grateful to MRED’s staff and leadership for their support and acknowledgement of RPR’s member benefit.”
About RPR
Realtors Property Resource® (RPR®), a wholly owned subsidiary of the National Association of REALTORS®, is an exclusive online real estate database providing REALTORS® with the analytical power to help their clients make better informed decisions while increasing efficiency in the marketplace. For more information about RPR, visit: http://blog.narrpr.com.
About MRED
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. For more information please visit MREDLLC.com.
How Many MRED Users Login to connectMLS From a Mobile Device?
Midwest Real Estate Data LLC (MRED) Wins Inman Innovator Award at Real Estate Connect Conference
MRED Recognized as Most Innovative Multiple Listing Service
LISLE, ILLINOIS (July 15, 2011) – Inman News™ (Inman) has announced its 2013 Innovator Awards winners, and Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), was recognized as Most Innovative in the MLS or Real Estate Trade Association category.
Inman News created the Innovator Awards in 1997 to honor the real estate companies, technologies, services and individuals who have propelled the real estate industry forward by improving the real estate transaction process for both consumers and real estate professionals. MRED was honored along with nine other companies and individuals in categories ranging from Most Innovative Real Estate Agent to Most Innovative Use of a New Technology. The awards were announced Friday at the Real Estate Connect Conference in San Francisco.
“It is thrilling that MRED is the recipient of such a great honor within our industry,” said MRED President Rob Schaid. “I congratulate our CEO and fantastic staff, who should all be very proud to receive this level of recognition.”
“On behalf of MRED, thank you to the Inman News review team for selecting us as one of the 2013 award winners,” said MRED CEO Russ Bergeron, himself an Inman Innovator of the Year award recipient in 1998. “There were many great organizations recognized as finalists, and it is gratifying for us to be singled out for such a prestigious honor. Our mission is to reinvent MLS, and being identified as the most innovative means we are on the right track.”
About MRED
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. For more information please visit MREDLLC.com.
MRED CEO AT THE CENTER OF LISTINGS DISTRIBUTION DEBATE
Russ Bergeron Joins Other Industry Heavyweights in Panel Discussion
At Real Estate Connect Conference
LISLE, ILLINOIS (July 9, 2013) – Midwest Real Estate Data (MRED), Chicagoland’s multiple listing service (MLS), has announced that its CEO, Russ Bergeron, will be featured as a panel member at the 2013 Inman Real Estate Connect Conference in San Francisco. MRED has also been selected as a finalist for an Inman News Innovator Award in the MLS/Real Estate Trade Association category.
This year’s conference is taking place July 10th through 12th at the Hilton Union Square in San Francisco. Bergeron will be participating in a panel discussion on Thursday, July 11th, titled “Ringleading at the Syndication Circus: Not Just Another Syndication Panel”. Discussion will ensue regarding the proliferation of listings on the Internet, and if the MLS can be positioned as the definitive listings caretaker.
Bergeron will be joined on the panel by other real estate industry notables such as Chris Crocker of Zillow, Jon Coile from Champion Realty, Andy Woolley of Homes.com, Luke Glass from ListHub, and David Charron of MRIS.
“Real Estate Connect is known for stirring up controversy,” said MRED CEO Russ Bergeron. “The pros and cons of listing syndication have been debated for years. Our goal is try to shake things up a bit in an attempt to refocus everyone as to why we are all in this business.”
About MRED
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. For more information please visit MREDLLC.com.
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