MRED Blog

The number of homes under contract in MRED’s network surged in the final week of May. According to MRED’s weekly report, 3,596 homes went under contract through May 29, a 9.7% increase from the previous week. 

Click here to see the full report.

Residential closed listings in MRED’s marketplace dipped for the second straight week during the second week of May. The 1,844 closed listings last week was a 14% week-over-week decrease and the lowest total since late March.

See the full snapshot.

MRED’s residential marketplace opened the first week of May with 6,017 new listings. That marked a 27% week-over-week increase compared to an 11% annual decline. It was the first time in nine months that a week had more than 6,000 new residential listings hit the market.

See the full weekly market snapshot.

The final week of April saw a major increase in MRED marketplace residential median sales price. The $310,000 mark in that metric was a 6% week-over-week jump and a 3% annual bump. That is the largest single-week total since July of 2022.

See the fully market snapshot.

MRED’s residential marketplace saw a 6% week-over-week increase in listings under contract during the last full week of April. That bump was enough to give the current year weekly contract total a 1% edge over the same span from 2022. It was the first time time since February of 2022 the current year weekly contract total outpaced the previous year’s.

Click here to see the full snapshot.

Last week, 5,732 new residential listings were entered into connectMLS. That mark was the largest single-week total since August. The week-over-week jump in that metric was 29%, while the year-over-year change was less than one percent, the narrowest annual gap in three months.

See the full weekly market snapshot.