In a study conducted by Bright MLS, the MLS lists the great majority of houses sold in the Mid-Atlantic. Between January 2019 and March 2022, 83.4% of all houses sold were listed and promoted with Bright MLS, with the Washington DC metro area having the highest proportion (86.0%) and the Baltimore metro area having the lowest (77.0%).
Homes listed and sold on the MLS sold for 13.0% more than comparable off-MLS homes. This investigation discovered that homes promoted and sold on the Bright MLS between 2019 and the first quarter of 2022 had sales prices that were 13.0% more than comparable homes that were not listed on the MLS. For the typical home sold during the research period, this translates to an additional $45,471 to the seller. Homes sold off-MLS for $349,773 on average during this time period, while comparable properties sold on-MLS for $395,244.
The study findings also apply to prior office exclusive listings: promoting a prior office exclusive property by placing it into the MLS resulted in a higher price for the seller.
