Feb. 2019 or Sept. 2018: Both Months where Homes Sold for 5x their List Price?

We should have all sold in those months; MLS says homeowners sold their houses on average for 520% and 527% over their original list price!

So once more while most other realtors were sleeping, I was up at 4AM trying to sort out MLS data that has been corrupted for a long time but no one seems to care? The MLS did correct some values I pointed out to them recently, but they want me to tell them precisely where is the bad data input, not just the output. They are asking that I look for the individual transaction that is causing the data error. Really? You have no quality control whatsoever? I now have to search through hundreds or even thousands of transactions for you? Nice!

Chart above is for how much single family homes sold on average in San Mateo County compared to the original list price. Wow, there were months where is was over 500%

Again, I know this stuff is not sexy, unlike the picture of me working on it this morning, but it is ultimately important. I hope more realtor join me in demanding that the MLS get this stuff right and that they institute some quality control mechanisms that red flag values that are so obviously corrupt.

The source of the problem is almost certainly people made giant mistakes when they input their original list prices. Someone meant to input $5,000,000 and accidentally first input $500,000. So now it looks like a $500,000 home sold for $5,000,000. A few of those mistakes completely destroys the average value for the month.

Alright, off to the gym and maybe a bagel.

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