MRED Blog

A total of 1,345 residential listings closed in MRED’s marketplace last week. That tally marked a 17% week-over-week increase and the second consecutive week of gains in that metric. Despite the bump, the 2022 mark from the same period still bested this year’s total by 42%.

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A total of 2,451 residential listings went under contract in MRED’s marketplace last week. That total marked a 62% week-over-week jump while reaching the largest single-week total since late October. It was the second consecutive week of increase in that metric.

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The first full week of 2023 saw the typical post-holiday increase in several key market indicators. One of the largest jumps came from residential open houses, which experienced a 634% week-over-week bump.

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New residential listings in MRED’s marketplace began to increase as the calendar flipped to 2023. Last week’s 2,288 new listings marked a 35% week-over-week increase while falling 8% short of the same key market indicator during the same span last year.

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The median residential sales price in MRED’s marketplace increased 2% on a week-over-week basis during the Dec. 12 to Dec. 19 period. That same span also marked a 2% annual decrease heading into the final full week of 2022.

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Contracts in MRED’s residential marketplace increased by 9% on a week-over-week basis during December’s first full week. It was the second week in a row that contracts increased after a holiday decline. Despite the rebound, this total still fell 27% short of the total from the same span in 2021.