On Tuesday, T3 Sixty released its annual ranking of the nation’s MLSs, local Realtor associations and state Realtor associations by year-end 2022 member counts in the Organized Real Estate section of the 2023 Real Estate Almanac.
The data reveal that the total number of MLSs and local Realtor associations have dropped 7.6% and 3.8%, respectively, from 2020 to 2022, while the average member count of each has steadily grown.
As T3 Sixty has reported in past years, the largest MLSs are growing rapidly and now serve a disproportionate number of subscribers. In the US, there are now 45 “Mega MLSs” who serve more than 10,000 members. Today, just 20 of these Mega MLSs (or 3.8% of the total organizations in the US) serve more than half of all MLS subscribers nationwide.
For the second consecutive year, the total number of local residential associations recorded dropped by ~1%. Meanwhile, local associations are continuing to increase their membership count, with an average growth rate of 5.5%. Since 2020, local associations have grown on average by 18%.
Clint Skutchan, senior vice president of organized real estate consulting, and Paul Hagey, T3 Sixty editor-in-chief, break down the release and some of its details in the video below.