National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

MarcusMillichap-52-banner
National  + Finance  | 
Median Home Price Hits Record High as Active Listings Hit All-Time Low

Median Home Price Hits Record High as Active Listings Hit All-Time Low

The median price for a home hit a record high in the four week period to March 20, rising 17% year-over-year to $379,230 and a blistering 6% from the previous four week reporting period, according data compiled by brokerage firm Redfin.

Driving prices higher was strong demand feeding into a marketplace where there were few listings, in other words a seller’s market. New listings for homes for sale fell 7% yoy, while active listings plummeted by 23% to 469,000, an all-time low.

59% of homes under contract had an accepted offer within two weeks on the market, an all-time high and up from 53% yoy.

Redfin data goes back to 2012.

Connect

Inside The Story

Redfin

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

  • ◦Economy
passco-02-cube
TaylorStreet-03-Cube