A couple weeks ago I wrote about how the local MLS published stats about the value per SqFt of living space of homes in San Mateo County that basically showed homes had tripled in value in one month. Impressive gains, but sadly for sellers and good for buyers, it was just a data error. A similar mistake occurred in October 2015 and it was never corrected. When I looked at the October 2019 raw data, I found that a bad data input from a single home was responsible for the whole thing. I reported the precise transaction and data input that caused the problem to the MLS and they corrected it.
However, when they corrected the 2019 error, they did not do anything about 2015 one. Did no one look at the results and say to themselves, “wait a minute, that doesn’t look right?” If you’re putting out data, you really should be able to quickly scan it for obvious mistakes. It’s your data, you more than anyone else should be able to understand it. Oh well, The real value for Oct. 2015 is about half of what they published, think I’ll contact them again.
This may seem trivial, but correct data is important. Specially when you’re talking about advising people on the value of one of their biggest assets. There are thousands of realtors in San Mateo and Santa Clara County and no one else is contacting the MLS to correct this stuff? Weird? Well time to contact the MLS again so the masses can have correct data.