MRED Blog

REinventing MLS

We heard your feedback on Remine… here’s what’s next

Thanks to everyone who participated in our recent Remine survey. Congratulations to Tony Oner of Keller Williams Success Realty for being the randomly selected participant to receive an iPad!

Here’s some of what subscribers said they like about Remine:

Here’s what we’re going to keep improving based on feedback:

  • Simplifying display of owner’s name
  • Linking directly to county pages
  • More intuitive location of information

We’re always evaluating our service providers to ensure we’re equipping you with the best tools possible. Survey feedback like this helps us serve you well.

Contracts skyrocket in July as buyers flood market

The real estate market saw a surge of new contracts in July, far outpacing previous-year numbers. Sales for the month posted modest gains, according to MRED’s Weekly Market Snapshot.

MRED’s review of data from across its member associations shows the number of contracts rose 58 percent when compared to July 2019. Although every contract will not ultimately result in a sale, the 23,918 contracts signal that the real estate market is poised to thrive at least into early fall.

Sales data show a modest increase in home sales in July, with a 3.5 percent increase over previous-year numbers.

Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.

Residential contracts strengthen; data point to strong summer market

MRED’s Weekly Market Snapshot shows that homes under contract increased for the third week in a row, surging 17 percent from the first week of July. The data from across MRED’s markets also show a 66.5 percent increase in contracts for the week ending July 27 versus the same week last year. 

Median prices continue to show strength as well, with a 6.7 percent increase over the same week last year. This was the sixth straight week of year over year weekly median price gains, the data show.

Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.

Monthly, annual gains seen in number of homes under contract

MRED’s Weekly Market Snapshot shows continued strengthening of the residential market as gauged by the number of homes under contract. The report, which looks at all of MRED’s markets, shows a three percent weekly gain in contracts, and a whopping 59 percent gain when the week ending July 20 is compared on an annual basis. Other findings:

  • Closed sales increased 22.6 percent over the previous week, posting strong numbers coming out of the initial stages of the COVID-19 crisis. Closed sales are just five percent off of 2019 numbers. 
  • The median price leaped 6.5 percent for the week, showing consumer interest driven in part by attractive financing rates. 

Find out what the market is doing with this weekly update provided by MRED each Tuesday.

Contracts post 12 percent weekly gain, MRED data shows

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Homes under contract for the week ending July 13 increased 12 percent over the previous week and posted a 67 percent annual increase, according to MRED’s Weekly Market Snapshot. Other findings include:

  • New listings rose 25 percent on a week-to-week basis, just slightly off of 2019 levels for the same week.
  • Median prices were essentially flat on an annual basis, rising just one percent for the same week last year.

MRED tracks key real estate metrics from across its 16-association service area in the Weekly Market Snapshot. Find the report here.

Key metrics point to strong start to July housing market

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Homes under contract, closings, new listings and median prices posted gains in the first week of July, pointing to a housing market which is showing signs of a definite rebound.

Contracts soared 48 percent for the first week of July when compared to 2019 numbers. According to data provided by MRED, there were 4,327  contracts for the week of June 30-July 6, compared to just 2,922 the previous year.

Other findings:

  • Closings increased 47 percent for the week when compared year over year, with 3,313 closings recorded for June 30-July 6.
  • New listings increased nine percent for the first week of July when compared to the same period in 2019.
  • Median prices increased five percent to $260,000, increasing from $247,250 as buyers returned to the market.

Learn more about the market each week with the Weekly Market Snapshot which looks at data from throughout MRED’s network. Find the report here.