Jeff Trigilio of the Listing Information Network, or “LINK”, sent me a note today to make some clarifications and to correct some erroneous information I included in my earlier post on downtown Boston condo sales.
I didn’t know that LINK reports ALL condo sales in the downtown Boston area, regardless of whether or not it was originally listed for sale in the database. That’s great.
In addition, I didn’t mention in my original post that LINK is preparing to release a major revision / upgrade to its software, so that all information is available through an Internet interface (to brokers and agents).
Also good to hear is that, going forward in 2006, LINK will include sold statistics for all of Boston, not just the downtown area.
Here is his email, slightly modified (I cut out the part where he said I was great).
(J)ust a quick clarification regarding your post on 1/20/06 -“Fun with stats – Boston condo sales increased 14.7% in 2005.”
Your argument that dual listing services cause inaccurate “sales” data is not valid for the LINK sold dataset. The argument is extremely valid for current inventory levels or current valuation trends on available listings, such as price changes, avg/median listing prices or days on market of current listings, however, the sold data used in the LINK Annual report of the downtown Boston condo market is extremely accurate. This is because regardless of the listings entered by our subscriber base and usership, our backwards-looking sales data statistics are hand-verified by a data specialist who cross-references sales data that we receive directly from the Suffolk county registry of deeds on a weekly basis. (I know, sounds like a fun job!)
This is the buyer/seller/mortgage company data that you see via our application “LINKnet”. [As an aside, you are certainly entitled to your opinions, (it is your BLOG after all), about the viability of our service when considering the state of our technology, however, as a valued paying subscriber, please be excited to know that we will soon be launching a best-in-class fully web-based solution.]
(W)hat you will notice when you do a sold property search on LINK, is that even when a condo listing wasn’t listed in LINK, be it a disillusioned LINK subscriber, a non-LINK subscribing brokerage firm or a FSBO, thanks to this painstaking sold data hand-checking process, we capture each and every condo sale in downtown Boston.
I hope you really couldn’t argue with our informed definition of downtown, which is all areas of Boston except Allston/Brighton, Dorchester, Hyde Park, JP, Mattapan, Roslindale, Roxbury and West Roxbury. Incidentally in the 2005 Annual Report we sent to you and referenced with the (Boston) Globe, we consider Bay Village a sub-area of the South End.
For 2006, we have also begun “compLINKing” all of these previously excluded areas of Boston, so that we will now have 100% of the sold condo data for all of Boston in our database…
I hope the explanation will clarify just how seriously we value the integrity of LINK sold data and the corresponding statistics that we prepare and distribute on a quarterly basis; basically we’re first and foremost data nerds
Listing Information Network