Bright’s 2022 On MLS Study

The findings from the Bright MLS 2022 On MLS study were definitive: Consumers benefit from the open marketplace facilitated through the MLS.

Between 2019 and 2022, 83.4% of all home sales transactions took place on-MLS and sold for an average of 13.0% more than comparable homes sold off-MLS, amounting to an additional $45,741 to the seller for the typical home sold on the MLS over that period.

In 2021, on-MLS homes sold for an average of 14.8% more than off-MLS properties, a $55,779 premium.

As the market cools, the advantage of the open marketplace continues to increase with on-MLS properties selling for 19.7% more, on average, than off-MLS properties during the first quarter of 2022.

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The open marketplace provided by the MLS enables consumers to have a level playing field where they can see all properties, and have an equal chance to obtain them. Share this key benefit with your clients.

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2022 Study: What’s different this year?

Last year, Bright MLS and external research partners examined differences in the prices of properties sold on and off the MLS. The 2021 study represented a first-of-its kind analysis to link MLS and public record data, creating a comprehensive dataset of home sales transactions that could be used to compare on- and off-MLS sales.

This year’s study builds on that prior research by enhancing the data filtering and cleaning process and using a rigorous multivariate statistical analysis. The updated study standardized MLS and public record data across five states and the District of Columbia (representing more than 60 counties), successfully targeting the analysis towards only residential, resale, arm’s-length transactions.