Multiple Listing Service (MLS) is a widely used system that allows real estate agents to share and access property listings in a central database. It is a vital tool for agents and brokers to share and search for properties, and for potential buyers and sellers to find properties that meet their needs.

In this blog post, we will explore statistics on MLS trends, adoption, market analysis, demographics, growth, and more.

Key Statistics 2023 – MY Choice

  • Over 90% of real estate transactions in the US involve an MLS.
  • In 2020, over 98% of all home sales in the US were listed on an MLS.
  • The use of MLS systems has increased by 15% in the last 5 years.
  • The majority of MLS users are married (58%), with 42% being single.
  • The majority of MLS users have children (64%), with 36% being childless.
  • The majority of MLS users have completed a college education (57%), with 43% having a high school education or less.
  • The majority of MLS listings are for residential properties (90%), with the remaining 10% being for commercial properties.
  • The average listing price for a property on an MLS is $300,000.
  • The average days on market for a property listed on an MLS is 60 days.
  • The MLS market is expected to grow at a CAGR of 6.5% from 2020-2025.

Multiple Listing Service (MLS) Stats

  1. There are over 800 MLS systems in the United States, with more than 1.4 million active listings.
  2. The majority of MLS systems (90%) are owned and operated by Realtor associations.
  3. Approximately 85% of all real estate transactions in the US are made through an MLS system.
  4. The average home sold through an MLS system is on the market for only 57 days

Multiple Listing Service (MLS) Trends

  1. 5. The use of online platforms and mobile apps to access MLS listings is becoming increasingly popular, with 77% of home buyers using online resources during their search.
  2. The use of virtual tours and virtual reality for property listings is becoming more common, with 44% of agents reporting that they use them.
  3. The use of big data analytics to analyze MLS data and make informed decisions is becoming more common, with 61% of agents reporting that they use it.

Multiple Listing Service (MLS) Adoption

  1. 8. The majority of real estate agents and brokers use an MLS system, with 87% reporting that they do.
  2. Smaller real estate firms are more likely to use an MLS system than larger firms, with 95% of firms with 1-10 agents using it.
  3. The most common reasons for using an MLS system include the ability to access a larger pool of listings (82%), the ability to reach more potential buyers and sellers (79%), and the ability to easily share and collaborate with other agents (75%).

Multiple Listing Service (MLS) Market Analysis

  1. 11. The MLS market is dominated by major players such as, Zillow, and Redfin.
  2. The online platform and mobile app segments of the MLS market are expected to see the highest growth during the forecast period.
  3. The North America region is the largest market for MLS systems, accounting for more than half of the global market share.

Multiple Listing Service (MLS) Demographics

  1. The majority of MLS users are male (57%), with the average age of users being45 years old.
  2. The highest percentage of MLS users are found in the age group of 35-54 years old (45%), followed by the age group of 55-64 years old (22%).
  3. The majority of MLS users are homeowners (70%), with 30% being renters or looking to purchase their first home.
  4. The majority of MLS users have a household income of $75,000 or more (57%), with the average household income being $100,000.

Multiple Listing Service (MLS) Growth

  1. The MLS market is expected to grow at a CAGR of 6.5% from 2020-2025.
  2. The increasing adoption of technology and the growing popularity of online platforms and mobile apps for real estate transactions are driving the growth of the MLS market.
  3. The increasing use of big data analytics and the rising demand for real-time property information are also driving the growth of the MLS market.

Multiple Listing Service (MLS) Latest Statistics

  1. 5.64 millionexisting homeswere sold in 2020, according to data from the National Association of REALTORS®. 
  2. 822,000newly constructedhomes were sold in 2020, according to the U.S. Census Bureau. 
  3. There are approximately 119.7 million occupied housing units in the United States, according to the2018 American Community Survey. 
  4. According to the2021 Profile of Home Buyers and Sellers, the typical home seller has been in their home for 8 years. 
  5. In 2019, 64.9% of families owned their primary residence, according to the Federal Reserve’sSurvey of Consumer Finances. 
  6. Monthly Membership Report and NAR Membership Statistics, 1908 present 68% percent of REALTORS® are licensed as sales agents, 20% hold broker licenses, and 13% hold broker associate licenses. 
  7. 65% of all REALTORS® are female, and the median age of all REALTORS® is 52. 
  8. 29%Bachelor’s degree 32%Graduate degree and above. 
  9. 13%Associate degree 13%Some graduate school 6%High. 
  10. ® affiliation with firmsIndependent contractor 88%Employee. 
  11. ® most often prefer to communicate with their clients through text messaging, at 93%. 
  12. Ninety percent preferred to communicate via telephone, and 89% through e. 
  13. 70% of broker/broker associates and 69% of sales agents have a website. 
  14. 81% of members have their own listings on their website, 69% have information about buying and selling, and 66% have a link to their firm’s website. 
  15. 74% of REALTORS® use Facebook and 56% use LinkedIn for professional purposes. 
  16. 20% of all members get 15% of their business from social media, and 10% get 6. 
  17. Of the members that use drones in their real estate business of office, 36% hire a professional, 14% have someone in their office that uses drones, and 6% personally use drones. 
  18. 34%Median age of firsttime buyers 33Median age of repeat buyers 56Median household income of first time buyers $86,500Median household income of repeat buyers $112,500. 
  19. Among those who financed their home purchase, buyers typically financed 87% of the home price. 
  20. 87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001. 
  21. Buyers who would use their agent again or recommend their agent to others 75%. 
  22. Internet 51%Real estate agent 28%Yard sign/open house sign 4%Friend, relative, or neighbor 6%Home builder or their agent. 
  23. from sellers/Knew the sellers 3%Print newspaper advertisement 1% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. 
  24. 90% of sellers were assisted by a real estate agent when selling their home. 
  25. Recent sellers typically sold their homes for 100% of the listing price, and 35% reported reducing the asking price at least once. 
  26. 68% of sellers who used a real estate agent found their agents through a referral by friends or family, and 53% used the agent they previously worked with to buy or sell a home. 
  27. Sellers who definitely would use same agent again 90% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. 
  28. FSBOs accounted for 7% of home sales in 2020. 
  29. 34%Yard sign 26%Friends, relatives, or neighbors. 
  30. 18%Social networking websites. 
  31. Tours 3%Forsaleby owner websites 2%Print newspaper advertisement. 
  32. According to the Multiple Listing Service statistics reported by Real Estate Magazine, properties with accompanying aerial images are 68% more likely to sell than properties without aerial photography, and that number is only increasing. 

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