Business

Transaction volume record set by listing service

Posted January 07, 2021 10:00 pm

LISLE - Midwest Real Estate Data, the largest multiple listing service in Illinois, announced record-setting production from its subscribers in 2020.

Real estate agents throughout MRED's market conducted more than $43 billion of business in 2020, the most since MRED was founded in 2008. This was a 14% increase over the previous high in transaction volume, the $37.7 billion set in 2018.

"MRED was proud to assist our subscribers in reacting to a market that faced many challenges, including a global pandemic," said MRED President/CEO Rebecca Jensen.

The record transaction volume came in a year marked by record median home prices, record number of sales, near-record selling times and the tightest inventories recorded since MRED's founding, the service said. Near record low interest rates in 2020 also kept the housing market red hot.

MRED serves much of Illinois and reaches into southern Wisconsin and northwest Indiana.

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