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.
Several key indicators in MRED’s marketplace pulled back slightly last week as the holiday weekend approached. New listings dipped 12% week-over-week while still outpacing last year’s pandemic-affected numbers for the 11th straight week.
MRED’s marketplace saw 5,198 listings go under contract last week. That tally marked a 12% week-over-week increase, 41% year-over-year and the second-most listings under contract in a single week during 2021.
Great news! Electronic earnest money is live and ready to use in connectMLS!
Click on the “Send Electronic Earnest Money” link under Additional Info on an active listing to get started. No need to log in or sign up!
If your Broker or Title Company is not on the list of registered Trust Accounts, encourage them to sign up at this link so you can easily route earnest money to their account.
You’ll love electronic earnest money because:
- It’s more secure than a paper check.
- It’s simple and convenient for you and your buyer.
- You don’t have to spend time and money driving around to pick up checks.
- You can see the real-time status of every payment request.
Questions? Contact the MRED Help Desk at 630-955-2755 or help.desk@MREDLLC.com
More open houses took place in MRED’s marketplace last week than in any individual week since mid-November. The 2,944 open houses marked a 63% bump compared to the previous week. This increase accompanied a rise in total active MRED listings, which grew to more than 59,000.
MRED’s marketplace saw a 3.1% weekly increase in residential median sales price, pushing the current total to $297,000. This marks the sixth consecutive week the median sales price was at $280,000 or more.