For the second time in a month, closed listings in MRED’s marketplace reached their highest point of 2021. The 3,849 closed listings marked a 48% week-over-week jump and was more than all but two individual weeks of 2020.
MRED saw active listings inch higher for the seventh week in the last two months. Last week’s one percent increase in active listings comes as the spring selling season gets into full swing.
5,263 listings in MRED’s marketplace went under contract last week, the most during any single week of the last two years. That total was a 14% weekly increase and the sixth consecutive week of 4,500+ listings under contract.
The first full week of April saw a nearly 10% weekly increase in new listings in MRED’s marketplace. This jump accompanied a 71% annual spike compared to 2020, when the market was adjusting to the initial weeks of a global pandemic. The 7,578 new listings was the most in a single week since mid-August of last year. See all the details in MRED’s Weekly Market Snapshot.
Closed listing totals in MRED’s marketplace saw one of its first major jumps of the year last week. The 37% week-over-week increase accompanied a 21% year-over-year increase in closed listings.
Inventory remains low in MRED’s marketplace, but the total number of active listings in connectMLS rose for the fourth straight week. The 55,301 total active listings was also the highest weekly mark since mid-December.