Page 16 - MLS Training Book

Step 6) Select ‘Status’ and choose everything except ‘rented’ properties. Include active, expired, pending

and sold properties

Step 7) Select 2 date ranges. Start with a range of 90 days.

Step 8) Go the residential style field and select the appropriate one.

You should have a shortlist of all the properties in the area that have sold and a range of prices that give

you an idea of market conditions and inventory.
 Focus on construction types that match your subject property.

 Pay particular attention to the ‘Average days on market’ in your chosen subdivision. An increase
suggests either low demand or a trend of overvaluation.

 You’ll also want to look at ‘Days on market’ for properties similar, as well as the number of active listings
similar to your subject property.

Conversely, high inventory might require you to lower your listing price