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: