Upcoming Changes To CREB® Statistics

CREB® will be switching to a new MLS® System early in 2015 as the current one will no longer be supported.  The evaluation process for the replacement system began in 2013 and in the end, Matrix™ was selected.

Agents will have access to Matrix™ beginning November 24th to begin learning the ins and outs of the new system before the rollover is complete on February 10, 2015.

What this means for clients

Some of the new features include: a new Client Portal will allow you to create and save searches of your own, categorize listings according to your interest level and more.  If you currently have saved searches with me in MLXchange, you will automatically be migrated into Matrix™.

Listings will be improved as the number of photos allowed has been increased from 20 to 50 per listing.   Not only that, but the largest photo display size will be enlarged from 640 x 480 to 1024 x 768.

What this means for the real estate statistics

The data structure in Matrix™ is different from what MLXchange offered, so the statistics will need to be updated.

For example: single family, condo-apartment and condo-townhome will be changed to attached, detached, apartment and land.   That means beginning in February there will be little point in referencing earlier monthly stat packages released by CREB® because they’ll no longer be an apples-to-apples comparison.

I’m not sure how I feel about condo-townhomes being lumped with attached homes that aren’t condos or about detached homes that are bareland condos being in the detached category – but it’s too early to comment further at this point.

As soon the 10-year historical stats are released with the updated data structure, I’ll be sure to make that available so you can continue tracking the stats accurately.

There might be some downtime with my weekly stats around February as I update all my spreadsheets with the new data, so please bear with me.

For a complete list of all the changes to the statistics, CREB® has a breakdown here:

List of Data Structure Changes to the Statistics (click to enlarge)

List of Data Structure Changes to the Statistics (click to enlarge)

One response to “Upcoming Changes To CREB® Statistics

  1. Release from CREB®:

    Seeking to provide consumers and industry experts with a better picture of Calgary’s housing market, CREB® has altered some of the categories in its monthly housing report.

    Prior to the changes, which will appear on the January housing update, the city’s housing stock was separated into three categories: single-family, condominium apartment and condominium townhouse.

    Single-family product included all properties that were freehold titled, as well as both attached and detached product. Condominium townhouses and apartments included properties that were condominium titled, comprised of either apartment high-rise and low-rise product, or attached townhome.

    “[We’re making the changes] partly for consistency,” said CREB® chief economist Ann-Marie Lurie. “It’s a more homogenous product. If you’re looking at a detached home, attached product can be very different in activity versus a detached home, so it’s looking at it in a more similar manner. Any time you’re looking at housing stats on aggregate, it’s better to try and group it with product that’s more like it.”

    Under the new categories, housing types will be separated into detached, attached and apartment style product. A detached home will be as it states: any property that is not attached to any other property.

    An attached property, meanwhile, will consist of any property type that is attached to another in any form without internal hallways. Apartment product will be classified as those that are attached to another property via internal hallways.

    In addition to category changes, CREB® will be making changes to the regions it reports on. CREB® will continue to cover Calgary, but will also include figures for Calgary CMA, Airdrie, Rocky View County and the M.D. of Foothills.

    CREB® has also identified various spots outside of these areas that are also active areas within the region. Previously, “CREB® Total” included all data from all MLS® sales regardless of location, however this failed to take into account transactions that either occurred outside of the region, or in communities where CREB® members do not represent the majority of the market transactions.

    The new CREB® Economic Region will consist of all member transactions in Calgary, Airdrie, Rocky View County (includes all rural, town, hamlet, village activity), the M.D. of Foothills and other active areas, including Strathmore, Vulcan, Carstairs, Didsbury and Cremona.

    CREB® will also include a measure for Calgary CMA, which will enable a comparison to data from Statistics Canada. The Calgary CMA includes Calgary, Rocky View Country and Airdrie.

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