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D E C E M B E R 2 0 0 8
MLS Statistics for RAGFL*
MLS
November 2008 iCheck Error Rules and Statistics
Description
Errors
Errors
Errors
Today
Last 30 Days
Previous 30 Days
Contact Info in Remarks Field . . . . . . . . . . . . . . . . . . 2 . . . . . . . . . . . . . . . . . 32 . . . . . . . . . . . . . . . . . 47
Contact Info in Internet Field . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . 41 . . . . . . . . . . . . . . . . . 11
URL in Remarks Field . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . 32 . . . . . . . . . . . . . . . . . 21
URL in Internet Field. . . . . . . . . . . . . . . . . . . . . . . . . . 2 . . . . . . . . . . . . . . . . . 21 . . . . . . . . . . . . . . . . . . 6
Invalid Broward County TaxID in FOLIO Field . . . . . . 0 . . . . . . . . . . . . . . . . . . 7 . . . . . . . . . . . . . . . . . 13
Invalid Dade County TaxID in FOLIO Field . . . . . . . . 1 . . . . . . . . . . . . . . . . . 11 . . . . . . . . . . . . . . . . . . 5
Invalid Palm Beach County TaxID in FOLIO Field . . . 0 . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 0
Style Mismatch. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 17 . . . . . . . . . . . . . . . . . 14
Open House in Remarks Field . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 3 . . . . . . . . . . . . . . . . . . 8
Active with No Showings in Remarks Field . . . . . . . . 1 . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . . . . . . . . . 6
Invalid Compensation Fields . . . . . . . . . . . . . . . . . . . 0 . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . . . . . . . . . . 8
Unacceptable Phrases in Remarks Field. . . . . . . . . . 4 . . . . . . . . . . . . . . . . . 55 . . . . . . . . . . . . . . . . . 58
Unacceptable Phrases in Internet Field . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . 5
Unacceptable Information in Subdivision Field . . . . . 0 . . . . . . . . . . . . . . . . . . 2 . . . . . . . . . . . . . . . . . . 2
Branded Virtual Tour. . . . . . . . . . . . . . . . . . . . . . . . . . 2 . . . . . . . . . . . . . . . . . 95 . . . . . . . . . . . . . . . . . 78
Expected Closing Date not updated. . . . . . . . . . . . . 19 . . . . . . . . . . . . . . . . 777 . . . . . . . . . . . . . . . . 681
DOM Refresh . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 . . . . . . . . . . . . . . . . 315 . . . . . . . . . . . . . . . . 336
Duplicate Listing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 . . . . . . . . . . . . . . . . 113 . . . . . . . . . . . . . . . . . 78
Courtesy Notice Statistics
Description
Notices
Notices
Notices
Today
Last 30 Days
Previous 30 Days
Listings Set To Expire in 10 Days. . . . . . . . . . . . . . 150 . . . . . . . . . . . . . . . 4,294 . . . . . . . . . . . . . . .4,672
Listings Set To Close in 10 Days . . . . . . . . . . . . . . 101 . . . . . . . . . . . . . . . 1,738 . . . . . . . . . . . . . . .1,641
Agent Reported Statistics
Description
Notices
Notices
Notices
Today
Previous 30 Days
Previous 30 Days
Possible errors reported by members . . . . . . . . . . . 16 . . . . . . . . . . . . . . . . 630 . . . . . . . . . . . . . . . . 569
While it's virtually impossible to manually check every listing entered into the MLS system, iCheck automates a large portion of
that task, making for faster and better oversight. It provides a near real-time level of quality and control, both in verification of
data and rules compliance, and automated notification of corrections needed.iCheck ­ Enhancing the Accuracy of MLS Data
MLS
Previous
Previous
November '08
Month Change
Year Change
New Listings
Single Family
1,793
1,879
-5%
2,149
-17%
Condo-Townhouse
2,148
2,239
-4%
2,632
-18%
Total all Property Types
6,491
6,983
-7%
7,614
-15%
Pending Inventory
Single Family
786
701
12%
312
152%
Condo-Townhouse
681
633
8%
370
84%
Single Family Sold
Closed Sales
569
620
-8%
399
43%
Average Sale Price
$312,168
$353,512
-12%
$457,080
-32%
Median Sale Price
$244,000
$250,000
-2%
$345,000
-29%
Total Sold Dollar Volume $177,623,592
$219,177,440
-19%
$182,374,920
-3%
Closed in 30 Days
29%
29%
0%
20%
45%
60 Days
16%
16%
0%
17%
-6%
90 Days
12%
10%
20%
13%
-8%
120 Days
11%
11%
0%
16%
-31%
121+ Days
32%
34%
-6%
34%
-6%
Condo-Townhouse Sold
Closed Sales
522
535
-2%
393
33%
Average Sale Price
$151,651
$153,842
-1%
$235,599
-36%
Median Sale Price
$110,000
$116,900
-6%
$164,000
-33%
Total Sold Dollar Volume
$79,161,822
$82,305,470
-4%
$92,590,407
-15%
Closed in 30 Days
26%
24%
8%
18%
44%
60 Days
16%
17%
-6%
18%
-11%
90 Days
15%
14%
7%
14%
7%
120 Days
9%
10%
-10%
10%
-10%
121+ Days
34%
35%
-3%
40%
-15%
Available Inventory
Single Family
10,961
11,379
-4%
12,408
-12%
Months of Available Inventory
19
18
5%
31
-38%
Condo-Townhouse
14,549
14,782
-2%
16,673
-13%
Months of Available Inventory
28
28
1%
42
-34%
Total all Property Types
35,365
35,975
-2%
39,195
-10%
*Note: The above statistics were compiled early December, additional sales for November may be reported that are not re
flected.
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Enhancements
T
here is some good news
to report in the home
market just in time for
the holidays. As you may recall,
we recently reported that `pend-
ings' were up. A `pending'
listing is when there is
an accepted offer
for sale, but
the trans-
action has
not yet closed.
Recent listings
that were `pendings'
are starting to become
`closed' sales.
RAGFL numbers for
November indicate an
increase in both single-family
home sales and condominium
sales. Single-family home sales
rose 43%, from 399 sales last
November to 569 sales this year.
Why an increase in the sales?
As home prices have come
down, more homes may become
affordable and attractive to buy-
ers. Lower prices may be the
catalyst first-time buyers need to
hop off the fence and into hom-
eownership.
Prices are falling. The median
sale price for a single-family
home was $244,000 in Novem-
ber compared to $345,000 last
year, a difference of nearly 29
percent. The median is the mid-
point, half the homes sold for
more, half for less.
The news in the
condominium market
was similar: Sales are
beginning to rise
and prices have
come down.
Our num-
bers show there
were 522 con-
dominium sales in
November, compared
with 393 a year ago,
an increase of 33
percent. Like-
wise, the median
price for a condomin-
ium declined 33 percent from
a year ago, from $164,000 last
November to $110,000 this year.
Inventory (the number of
homes for sale) has been declin-
ing. There was a decline of 12
percent in single-family homes
on the market and a decline
of 13 percent in condomini-
ums from a year ago. Decreased
inventory usually leads to an
increase in demand which would
be a benefit in our market.
Home Sales Rise in
November