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The final full week of 2021 registered the lowest weekly total of new listings since April. The 2,408 new listings in MRED’s marketplace were down 23% compared to the previous week. However, compared to 2020, it was less than a half percent decline, signaling typical seasonality.
The median sales price in MRED’s market registered a 1% week-over-week increase during the last seven days. The $281,000 mark was a 9% annual jump and the highest single-week total since late August.
More than 2,700 residential listings went under contract last week. That 4 percent week-over-week increase marked the second consecutive week of growth while still outpacing 2020’s total during the same time span by 3 percent.
A total of 4,006 new residential listings entered MRED’s marketplace last week. That 54% weekly increase nearly brought the total to pre-Thanksgiving levels and was less than a 5% dip compared to the same week in 2020.
The holiday week brought predictable dips across major indicators in MRED’s marketplace. Closed listings, new listings, open houses and listings under contract were all significantly down week-over-week. Median residential sales price actually increased by half a percentage point weekly and 16% annually.
The last full week before Thanksgiving produced a 32% week-over-week bump in closed listings in MRED’s marketplace, resulting in 3,000 total closed listings. While that mark is a 15% annual dip, 2021’s weekly bump outpaced 2020 by 5%.