MRED Blog

Median home prices across MRED’s markets in the week ending Aug. 17 soared 16 percent over previous-year numbers, showing continued strength despite the pandemic. The strong showings comes in the month straight week of median price gains. 

The numbers indicate a strong willingness by consumers to pay a premium for housing, although the number of properties actively listed in MRED’s system was largely flat. Actively listed properties fluctuated less than 2 percent, within the last five weeks, ending the week of Aug. 17 at 72,357. 

Learn more about the market, including data on open houses and rents with MRED’s Weekly Market Report, updated each Tuesday. 

MRED’s Weekly Market Snapshot showed market strength in a time when the real estate selling season usually begins winding down. The data from across MRED’s markets showed:

• Sales in the first week of August were up 26 percent on an annual basis.
• Contracts, often seen as a forward-looking indicator of how the market might perform, soared 66 percent over last year’s numbers.
• Median home prices rose 7.2 percent from the same week last year. Median prices have increased year over year for eight weeks in a row.

Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.

Thanks to everyone who participated in our recent Remine survey. Congratulations to Tony Oner of Keller Williams Success Realty for being the randomly selected participant to receive an iPad!

Here’s some of what subscribers said they like about Remine:

• Remine Docs (learn more)
• The addition of flood maps (learn more)
• Estimated lot dimensions (learn more)

Here’s what we’re going to keep improving based on feedback:

• Simplifying display of owner’s name
• Linking directly to county pages
• More intuitive location of information

We’re always evaluating our service providers to ensure we’re equipping you with the best tools possible. Survey feedback like this helps us serve you well.

The real estate market saw a surge of new contracts in July, far outpacing previous-year numbers. Sales for the month posted modest gains, according to MRED’s Weekly Market Snapshot.

MRED’s review of data from across its member associations shows the number of contracts rose 58 percent when compared to July 2019. Although every contract will not ultimately result in a sale, the 23,918 contracts signal that the real estate market is poised to thrive at least into early fall.

Sales data show a modest increase in home sales in July, with a 3.5 percent increase over previous-year numbers.

Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.

Listing input is easier with artificial intelligence! Take advantage of connectMLS features that save you time.

Image recognition

This computer vision feature allows you to autopopulate image/room titles, features and flooring.

1. Click “Smart Photo Upload” in the General tab of listing input.
2. Review and confirm discovered information before accepting.

Automatically title photos

Upload your photos and have them automatically titled with the appropriate room name.

1. Upload your photos in Media.
2. Click “Apply Image Recognition” at the top of the page.
3. Photos will be processed in about a second per image.
4. Click “Continue”.
5. Your photos are now labeled with their room title!

Get all the details.

You can still edit the title if the automation missed the mark (empty rooms and shared amenities are more difficult for the automated process to identify).

MRED’s Weekly Market Snapshot shows that homes under contract increased for the third week in a row, surging 17 percent from the first week of July. The data from across MRED’s markets also show a 66.5 percent increase in contracts for the week ending July 27 versus the same week last year. 

Median prices continue to show strength as well, with a 6.7 percent increase over the same week last year. This was the sixth straight week of year over year weekly median price gains, the data show.

Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.