MRED’s marketplace saw a 16% week-over-week increase in residential listings going under contract. The 4,566 contracts from July 12-19 also edged out the total from the same period in 2020.
New listings in MRED’s marketplace rose by 25% week-over-week following the holiday. The 7,978 new listings from July 5-12 was a 9% decrease compared to the same period in 2020.
Last week saw the most listings close in MRED’s marketplace in a single week in more than two years. The 4,529 closed listings was also a 36% week-over-week jump and an 18% annual increase.
A 38% week-over-week increase in MRED marketplace open houses pushed the weekly total to 3,318 open houses. This tally is the most open houses in a single week since the beginning of 2021.
The final week of spring marked the third consecutive week of active listing increases in MRED’s marketplace. 61,025 total active listings were in connectMLS as the calendar flipped to summer, the first instance of 61,000+ active listings since December of 2020.
Median prices soared in the first week of June to the highest levels in MRED history. The six percent week-over-week surge pushed the median price for a home to $310,000.