REinventing MLS

Median sales prices stay strong

The residential median sales price in February’s final week saw increases of nearly 1% year-over-year and slightly more than 1% week-over-week. This marked the fourth time in the last six weeks that the current year median sales price outpaced the previous year’s total.

See the full weekly market snapshot.

Contracts narrow year-over-year gap

Last week’s 20% rise in residential listings under contract in MRED’s marketplace ushered in the largest single-week contract total since late August. That increase also narrowed the year-over-year gap to a 3% annual decrease, the smallest margin in three months.

See the full snapshot.

New listing totals rise again

MRED’s residential marketplace saw 3,936 new listings during the first full week of February. That total bested the previous week by 6%, marking the second straight week of increases in that metric. The bump wasn’t enough to match last year’s total during the same span, however, as 2022’s mark was 13% more than in 2023.

Click here to see the full weekly snapshot.

Closed listings rise for second straight week

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%.

See the full snapshot.

Residential contracts reach 11-week high

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.

See the weekly snapshot.

Open houses open back up

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.

See the full Weekly Market Snapshot.

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