MRED Blog

REinventing MLS

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s