Sales prices outpacing 2019 numbers as demand remains high
Sales prices outpacing 2019 numbers as demand remains high
The median sales price of a residential listing in MRED's network remained at $260,000 for the third consecutive week.
This is a 16% year-over-year increase that bucks a trend from 2019 in which median sales prices began to decrease in August and September.
This year's steadiness is despite a third-straight week of declines in residential listings under contract, although 2020's numbers have outpaced 2019 in this category for nearly four months.
Real Estate NewsMarket indicators remain strong as summer nears its end
Market indicators remain strong as summer nears its end
Nearly every metric in MRED’s market report showed weekly and year-over-year improvement. This encouraging trend included an 18% annual increase in closed listings, marking the fifth week in a row of year over year growth and the third consecutive week of gains in 2020.
New listings in MRED’s system remained steady, continuing its month-and-a-half-long streak of stability. August’s third week saw 16% improvement year over year for new listings, while listings under contract were up 75% compared to 2019.
Learn more about the market, including data on open houses and rentals with MRED’s Weekly Market Report.
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