MRED Blog
REinventing MLS
Thanksgiving week brings market slowdown
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.
Pre-holiday surge results in closed listings spike
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%.
Closed listings fall to lowest point in two months
The 2,267 closed residential listings in MRED’s marketplace last week was the lowest single-week total since early September. The 14% week-over-week decrease also resulted in a 19% annual dip, the 19th week in a row in which 2020’s closed listings outpaced the current year.
MRED market registers median sales price high
The median sales price of residential listings in MRED’s marketplace last week reached $278,000, the highest point since early September. The two percent week-over-week increase in median sales price also accompanied a 10 percent annual bump.
Residential sold price falls, still outpaces 2020
The median residential sales price in MRED’s marketplace fell 1% on a week-over-week basis during the final week of October. Despite the weekly decrease, prices are still are up 5% on an annual basis for the same week last year in MRED’s markets.
New listings increase for first time in six weeks
MRED’s marketplace saw 5,574 new residential listings entered during the week of Oct. 18. This was a 5% week-over-week bump and the first time since early September that this key market indicator increased.
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