Bright MLS, the second-largest multiple listing service in the U.S., is out with updated numbers that point to some major advantages for those who sell on the open marketplace.
According to Bright, on-MLS properties sold for 19.7 percent more, on average, than off-MLS properties during the first quarter of 2022. That builds on 2021 data, where on-MLS homes sold for an average of 14.8 percent more than off-MLS properties—a $55,779 premium.
“Over the past few years, demand for housing has been very strong and homes have been selling briskly, often above the seller’s asking price,” said Bright MLS Chief Economist Dr. Lisa Sturtevant. “This research shows that even when homes flew off the market with little prep, there was a clear benefit to listing a property on Bright MLS, which offers the widest exposure for your home, including ensuring that your property is visible to homebuyers nationally.”
Between 2019-2022, 83.4 percent of all home sales transactions took place on-MLS and sold for an average of 13 percent 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.
Bright MLS has a six-state Mid-Atlantic footprint that encompasses major metro areas including Washington, D.C, Baltimore and Philadelphia.
You can read the full study by clicking here.