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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 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.
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%.