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.
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.
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.
The residential median sales price in MRED’s marketplace increased 2% week-over-week. The $295,000 median mark is the highest price in five weeks, also besting last year’s same-week total by 16%.
Midwest Real Estate Data has named three Illinois real estate leaders to head up teams which will focus on delivering customized rules for one of the nation’s largest MLSs.
Lisle, Ill.-based MRED announced at its April Owners Meeting that it was creating Localized Rules Teams to better facilitate rule change discussions in the many markets MRED serves.
Previously, MRED had one rules committee, called the Compliance User Team, which vetted MRED’s rules. MRED will now have three Localized Rules Teams which will focus on urban, suburban and rural rules. The creation of the local teams recognizes that MRED’s markets have unique needs and allows the MLS to be more flexible when serving them. The teams report to the MRED Board of Managers, which has the final say on any rule changes.
The first set of Localized Rules Team meetings was held in late July.
Leading the teams are:
Ruth “Drussy” Hernandez – Managing Broker, Coldwell Banker
Hernandez has more than 30 years of experience and is the branch vice president of brokerage services at Coldwell Banker. The Chicago Association of REALTORS® recognized her industry contributions in 2017 by honoring her with its Managing Broker of the Year award. Hernandez currently serves on the board of the Chicago Association of REALTORS® and MRED’s Board of Managers.
Linda Pilmer – Pilmer Real Estate
Pilmer has worked in the real estate industry for most of her career and is president and designated managing broker of the Pilmer Real Estate Inc. in Aurora. Pilmer is an Ombudsman for Illinois REALTORS®, serves as a panelist for the association’s arbitration and ethics hearings and is on the Professional Standards Committee of the REALTOR® Association of the Fox Valley. She has also served as a member of MRED’s Compliance User Team for several years.
Sue Miller – Coldwell Banker The Real Estate Group
Miller is the designated managing broker of Coldwell Banker The Real Estate Group in McHenry, Ill., and has been licensed in real estate for 33 years. During that time, Miller has been active on MRED’s Board in addition to serving on MRED’s Compliance User Team, which she chaired. Miller is 2021 president of Illinois REALTORS®. She has served two times as president of Heartland REALTOR® Organization, which honored her twice as the organization’s local REALTOR® of the Year. Miller was named the Illinois REALTORS® REALTOR of the Year in 2017 and given the Illinois REALTORS® Distinguished Service Award in 2013.
Closed residential listings in MRED’s marketplace jumped 37% week-over-week. The 4,204 closed listings was the second most in a single week this year, but it still fell 37% short of 2020’s total during the same period.