MRED agents set record transaction numbers

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  • MRED agents set record transaction numbers
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LISLE, Ill. – Subscribers to the multiple listing service Midwest Real Estate Data’s set new production records in 2020, the company announced recently.

Agents throughout MRED’s marketplace conducted more than $43 billion worth of business in 2020, the most since the company was founded in 2008, the company said in a news release. This was a 14% increase over the previous recorded transaction volume high of $37.7 billion in 2018.

The record transaction volume came in a year marked by record median home prices and number of sales, according to the news release. 2020 also saw near-record selling times and the tightest inventories since MRED’s founding.

Among the highlights from throughout MRED’s system:

• The median sales price for residential properties in MRED’s connect MLS system was $248,000 in 2020. This was the highest median sales price recorded in the last decade.

• A residential listing in MRED’s database sold in 81 days on average. This was the second-lowest annual number since MRED’s founding, bested only by 2018’s average of 79 days.

• For 2020, MRED had an average of 3.1 months’ supply of inventory, the lowest months’ supply in more than a decade. December’s 1.8 months’ supply was the lowest monthly number recorded since MRED’s founding.