MLS & Associations

Study argues homes listed in the MLS sell for more

Stats show drop in share of 'for-sale-by-owner' sales in Philly area

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In 2013, homes in the Philadelphia metro area marketed in the local multiple listing service sold for between 10 and 32 percent more than properties not marketed via the MLS, according to a study from TREND MLS. The study analyzed existing, single-family home sales above $50,000 in 13 counties in Pennsylvania, New Jersey and Delaware between 2000 and 2013. In order to figure out what share of homes were marketed on the MLS, TREND matched public records sale information to MLS sale information. Where no matches were found between a public record sale and an MLS sale, TREND concluded the property was sold outside of the MLS. Non-arm's length transactions, sheriff's sales, sales with corporate or institutional ownership involvement and blanket sales covering more than one property were filtered out of the analysis. For-sale-by-owner properties were not. TREND also did not analyze prices by square foot or control for property characteristics such as size and age. King of Pruss...