Jul
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MRED Reports Robust Real Estate Numbers for May

July 06, 2012

Growing graphThe Chicagoland multiple listing service (MLS), Midwest Real Estate Data, recently confirmed that the May Illinois real estate market was one of the best in recent history, and that sales numbers for Chicago real estate could even be described as robust.

Data compiled by the Illinois Association of Realtors® from the MRED and other MLSes around the state, year-over-year median prices rose for the first time in 49 months in the Chicagoland area. Median prices rose for the state as a whole for the first time in 22 months.

MRED disclosed promising numbers: May 2012 closed transactions were up almost 25 percent from last year and traditional transactions now make up 63 percent of all transactions. In addition, all transactions are showing a month-over-month increase in average sold price and are showing decline in average time on market since April.

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.

About The Author

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Jeff Lasky is the Director of Communications and Training at Midwest Real estate Data LLC. 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 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.

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