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.
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.
- 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.
- New listings entered into MRED’s connectMLS for the week of June 29 were off just three percent from 2019.
- Median prices for the week showed continued modest gains, posting a 1.2 percent increase over 2019 numbers.
- Open houses, a measure of consumer market interest, doubled over the course of the month.
Learn more in the Weekly market Snapshot, released each Tuesday by MRED. Find the report here.
Log into connectMLS and click the banner at the top of the page to get a sneak peek and try out the new features for yourself.
This faster “General Search” experience uses the layout of Classic Search you love while also incorporating popular Modern Search features. It’s the best of both worlds!
Some of what you’ll love about “General Search”:
- Easy access to full agent report
- Quicker navigation to map view/search
- No more switching between different views
- More filters and view options for one-line summary
- New report: “Full Agent Optimized” includes handy navigation links for quick access to information
- And more!
We’re always open to hearing from you about ways we can improve. Log into connectMLS and click the banner at the top of the page to try it out. Then you can email us at firstname.lastname@example.org with your feedback on “General Search”.
And don’t forget! Our knowledgeable and friendly Help Desk team is here to help every step of the way at 630-955-2755 or help.desk@MREDLLC.com
MRED is proud to attract many of the best and brightest real estate professionals to its Board of Managers. This collaboration of experience and thought leadership allows MRED to pave the way forward as a cutting-edge MLS.
MRED’s Broker Preferred Unit Owners (PUOs) have the unique opportunity to nominate any candidate to represent their company on MRED’s Board. The members of one of three categories (based on annual transaction count) may vote on the nominees in their respective category. The following individuals were recently elected to the MRED Board of Managers to fill five open seats through election by their peers:
Sue Miller – Coldwell Banker The Real Estate Group
Miller is the Designated Managing Broker of Coldwell Banker The Real Estate Group in McHenry, Illinois and has been licensed in real estate for 32 years. During that time, Miller has previously been active on MRED’s Board in addition to serving on MRED’s Compliance User Team (CUT) group. Miller is the current Illinois REALTOR® President-Elect and is also an active member of the National Association of REALTORS®. She has served as President of Heartland REALTOR® Organization twice.
Molly Ryan – Berkshire Hathaway HomeServices Chicago
Ryan has worked as General Counsel at HomeServices of Illinois for Berkshire Hathaway HomeServices KoenigRubloff Realty Group and Fort Dearborn Land Title Company. Ryan was also recently named a “Most Notable General Counsel” by Crain’s Chicago Business and has served several terms as a River Forest Public Library Trustee as well as President of the Library Board. This election marks Ryan’s fourth term on MRED’s Board of Managers, having served as Board Secretary for three previous terms.
Lynn Madison – Lynn Madison REALTOR®
Madison owns Lynn Madison Seminars, a full-service real estate training and development company. Madison often speaks at national real estate events and has led classes in more than 30 states. Madison was the President of the Mainstreet Organization of REALTORS® in 2016, currently sits on two National Association of REALTORS® committees, and has previously served on MRED’s Board.
Sue Wiskowski-Fair – Realty Executives Premiere
Wiskowski-Fair has been in the real estate business for more than 40 years, having been President of the Realty Executives Franchise system in the Chicago area. She was President of the Wisconsin Association of REALTORS® prior to moving to Illinois 30 years ago. Wiskowski-Fair is the current Treasurer of the Board and is Vice-President of Career Development for Realty Executives Premiere. She has served in numerous leadership positions of the Realtor Association at the State and National levels. She is an active agent and Managing Broker.
Jeff Gregory – Realty Executives Success
Gregory is the Owner and Managing Broker of Realty Executives Success. He has 7 years of experience on MRED’s Board of Managers, including 4 years as Board Chair and 1 year as Treasurer. Gregory also served as MRED’s Acting CEO for eight months and chaired the search committee that found MRED’s current CEO, Rebecca Jensen. Additionally, Gregory has served on numerous committees for Illinois REALTORS® as well as the National Association of REALTORS® and is an RPAC Hall of Fame Member.
Other 2020 MRED Board Members include: Fran Broude, Coldwell Banker Residential Brokerage; Chad Gilbert, RE/MAX Suburban; Dave Naso, Keller Williams; Drussy Hernandez, Fulton Grace Realty; Paul Wells, RE/MAX of Barrington; Michael Emery, Urban Real Estate; Royal Hartwig, The Royal Family Real Estate; Al Rossell, Jack Carpenter Organization; Chris Studebaker, CEO of the REALTOR® Association of the Fox Valley; Jim Haisler, Heartland Realtor® Organization; Art Carter, California Regional MLS.
MRED’s Board also appointed Jeremy Crawford to serve in 2020 as a Strategic Manager. He will join returning Strategic Manager Art Carter on the Board.
Jeremy Crawford – President/CEO, First Multiple Listing Service
Crawford is the President/CEO of First Multiple Listing Service (FMLS), a broker-owned MLS which serves more than 42,000 real estate professionals in Georgia across 2,100 broker member offices. Crawford’s experience includes 7 years with the Real Estate Standards Organization (RESO), 4 years of which he served as its CEO and 3 years he served on its Board. Crawford also previously served as an executive for a well-known MLS and MLS vendor.
Art Carter – CEO, California Regional Multiple Listing Service
Carter oversees the strategic direction of the largest MLS in the country at more than 86,000 real estate professionals and 34 associations across California. Carter was named one of Inman News’ 100 Most Influential Real Estate Leaders in 2016 as well as one of the Top 20 Association/MLS Executives in the Swanepoel Power 200.
MRED would like to extend a special thank-you to outgoing Board Members Luigui Corral, Broker Owner of RE/MAX American Dream, and John Matthews, Senior Vice President of Residential Sales of Baird & Warner, for their dedication and service to MRED. A special thank you to John Matthews for his 9 consecutive years on MRED’s Board and serving as Board Chair in 2019.
MRED would also like to thank North Shore–Barrington Association of REALTORS® CEO Steve Volkodav for his years of service to the local real estate marketplace and on MRED’s Board of Managers. Steve was recently named the new CEO of the Pike’s Peak Association of REALTORS® in Colorado Springs, Colorado.
Steve began his time with NSBAR in 2000 and became its CEO in 2013. He is a graduate of Loyola University of Chicago and was named as one of three national honorees in June of 2018 to be inducted into NAR’s Almon R. (Bud) Smith Leadership Society.
Chris Studebaker, CEO of the REALTOR® Association of the Fox Valley, will be filling the vacated Association Executive seat on MRED’s Board. Chris began as RAFV CEO in 2014 and previously served as the Executive Director of the REALTOR® Association of Southwestern Illinois.