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MRED Board Member Tommy Choi named Illinois REALTORS® 2023 treasurer nominee

MRED congratulates MRED Board of Managers member Tommy Choi on being named treasurer nominee for Illinois REALTORS® at the state association’s Capitol Conference in Springfield this week.

If approved by Illinois REALTORS® Board this fall, Choi would become president of the state association in 2024-25.

Choi co-founded the Weinberg Choi Residential team in 2007 and served as the 135th president of the Chicago Association of REALTORS®. He has previously held numerous committee positions with Illinois REALTORS® and was the chair of the National Association of REALTORS® YPN Advisory Board. In 2021, he served as NAR’s vice president of association affairs.

Choi (Keller Williams ONEChicago), began his first term on MRED’s Board in 2021.

connectMLS listing total hits three-month high

More than 41,000 active listings were available across MRED’s marketplace during the final full week of March, the most since mid December. The 1% week-over-week increase continued the gradual rise leading up to spring market.

See what’s happening in our Weekly Market Snapshot.

You can also view a new in-depth Weekly Market Activity report from InfoSparks! Go to InfoSparks in the “Tools, Resources & Links” section of connectMLS, select Reports at the top of the page and click “Weekly Market Activity Report” to view it.

Median price increase shows spring market off to robust start

The median sales price for residential listings in MRED’s marketplace reached the highest weekly level since August. A 4% weekly increase and 5% annual bump pushed median prices to $295,000.
See all the trends in our Weekly Market Snapshot.

MRED marketplace sees four-month contract high

Residential listings under contract in MRED’s marketplace saw a 4% week-over-week increase. The 3,827 contracts is the most in a single week since November but a 13% annual decline.

Get the whole picture in our Weekly Market Snapshot.

MRED market sees most open houses since November

The first week of March saw 2,181 residential open houses across MRED’s marketplace. That total is a 14% weekly increase and the most in a single week since early November.

See the trends in our Weekly Market Snapshot.

Residential median sales prices posts increase

The final week of February saw a 3% weekly increase in median residential sales prices across MRED’s marketplace. The rise to nearly $280,000 also marked a 6% annual bump.

See more in our Weekly Market Snapshot.

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