AI can find accurate real estate data

wooden houses

For years I have been publishing information about home sales in St. Paul based on data from our MLS.  I do this because the reports that I get from other sources define St. Paul Minnesota differently than I do. My numbers are all about home sales within the city limits. Other sources include data from nearby suburbs and call it all St. Paul.

If you live in the area you know that Maplewood, Woodbury, Oakdale, and White Bear Lake are not St. Paul. Sure they are close by but housing prices and even housing styles are very different than those in the city.

I asked BARD, which is Google’s artificial intelligence to give me some numbers for home sales in March of 2023 in St. Paul and this is what I got:

Number of homes sold: 270
Median sales price: $266,000
Average sales price: $300,000
Days on market: 26
Inventory: 450
Percent of homes sold above asking price: 30%
Percent of homes sold below asking price: 10%

Not bad! I guess I can be replaced.  Home buyers and sellers just need to ask the right questions. I have also been playing around with chatGPT which has taken the real estate industry by storm. There are classes on how to use chatGPT (artificial intelligence) for real estate agents and how to use it to build a real estate business. There are experts speaking about the future of AI in real estate too.

AI is being used to write blog posts and social media campaigns and it is being used to write property descriptions for marketing houses that are for sale.

Yet at the same time, home sales are down . . from last year at this time by 22%.

Print Friendly, PDF & Email