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Follow on Google News | MRED Reports Early Real Estate FireworksMay Was a Recent Real Estate Record Setter Worth Celebrating
By: Midwest Real Estate Data According to data from MRED and other MLSs around the state, and compiled by the Illinois Association of Realtors®, year-over-year median prices rose for the first time in forty-nine months in the Chicagoland area. For the first time in twenty-two months, median prices rose for the state of Illinois as a whole. Sales numbers across the state could be described as robust. Focusing on its own vast database, MRED uncovered some other promising numbers. May 2012 closed transactions were up almost twenty-five percent (25%) over May 2011. Traditional transactions (versus foreclosure/ All transaction types are showing a month-over-month increase in average sold price. In fact, MRED reports three consecutive months of overall average sale price increases, with a jump of over twenty-six percent (26%) since February 2012. The average market time has been declining since April 2012 throughout all the different transaction type segments. MRED metrics are a great indicator of the overall health of the real estate marketplace. The MRED database contains approximately ninety percent (90%) of the Realtor® transactions in Illinois, housed in its connectMLS™ system, which is accessed by about eighty-five percent (85%) of the Realtors® in Illinois. “From my perspective as a Realtor®, I am as pleased as could be at all of the positive news and indications that we’re finally moving in the right direction in our respective real estate marketplaces,” “Even though this represents only one month’s results, we still remain cautiously optimistic that we are seeing a true turnaround in the real estate marketplace,” About MRED Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 40,000 brokers, agents and appraisers and 8,000 offices. MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin and northwest Indiana. For more information, visit: www.mredllc.com. End
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