MRED Blog
REinventing MLS
Contracts bounce back after holiday week
Residential listings under contract registered a weekly 15% increase following the week of Labor Day. The 3,899 contracts also beat out the previous year’s total from the same period for the first time in three weeks.
Median sales price dips to lowest point since Feb
The median residential sales price in MRED’s marketplace registered a 4 percent week-over-week decrease during the first full week of September. That decline brought the key metric to $270,000, the lowest total since the final week of February.
Closed listings jump, fall short of 2020 levels
Closed listings in MRED’s marketplace notched a top five weekly finish for the year so far. Despite the strong showing, the 3,845 closings for Aug. 30-September 6 was off from the same week last year by 8 percent.
Residential prices continue fall, still outpace 2020
MRED’s marketplace saw the third consecutive week of declines in residential sales prices to round out August. The $279,500 median sales price is a 1% weekly dip and a 5% decrease from the start of the month, though it still tops the $257,500 mark from the same period last year.
Gradual decrease continues for new listing totals
New listings in MRED’s marketplace decreased for the second consecutive week. The 7,015 new residential listings was the lowest single-week total since the Independence Day holiday and an 11% year-over-year decrease.
Residential listing totals continue rise
The active listings in MRED’s marketplace increased week-over-week for the second consecutive week, reaching a total of 60,586 listings. Despite the weekly bump, that mark still fell 17% on an annual basis.
