Redfin Report: May Real Estate Market the Fastest on Record; Prices Up 6.3%
SEATTLE/ June 14, 2018 (STLRealEstate.News) — (NASDAQ: RDFN)–The typical home that sold in May went under contract in 34 days, according to Redfin (www.redfin.com), the next-generation real estate brokerage. May broke April’s record of 36 days, which was the fastest month Redfin had recorded going back to 2010. Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017 across the 174 markets that Redfin tracks.
The number of newly listed homes for sale increased 4.3 percent compared to May of last year, driving a 3.6 percent increase in the number of homes sold.