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June Market Activity in Livingston County
With so much uncertainty clouding our everyday life, the last thing you need to worry about is whether or not you'll be able to successfully buy or sell a home in Livingston County. Our real estate agents at Griffith Realty understand the concerns our home buyers and home sellers have and want you to know that we are continually committed to helping you achieve your real estate goals. We may not know what life will be like in a post-pandemic world, but we do know that the real estate industry is already showing signs of recovery.
Current Market Activity in Livingston County
Like most areas of our nation, Livingston County has been negatively impacted by the spread of COVID-19 in nearly every way imaginable. As expected, the real estate industry did feel these effects over the last few months, and it's reasonable to assume that this industry, as well as most others, won't be "back to normal" for some time.
However, we are pleased to announce that the latest real estate reports measuring home sales in Livingston County are showing signs of improvement. Although life may not have returned to "normal," it's clear that buyers and sellers alike are adapting to our new normal by moving forward with their real estate plans. According to the most recent data regarding residential real estate activity in Livingston County during the month of May:
- Although the number of active listings was down from 2019, it has increased by 8 percent since April 2020.
- The median listing price for residential homes in Livingston County in May was $359,000, which was an increase from April 2020.
- Believe it or not, the average number of days a property sat on the market before being sold has decreased compared to May 2019.
- The median sale price for residential homes in Livingston County in May was $282,000.
- The number of properties sold decreased both year over year and month over month.
What does this mean for buyers and sellers in Livingston County? Due to the low inventory in Livingston County and home buyers now being able to go out looking for homes, the reported activity in the market is quite high. Homes are selling quickly and for close to list prices. Making June a good month to sell and a very competitive market to buy a home in.
Real Estate in the Age of the Coronavirus
If you're interested in buying or selling your home in Livingston County, we invite you to let us assist you through this process. The real estate industry is adapting and evolving to flourish in the post-pandemic world, and Griffith Realty has made changes in stride to keep all of our agents and clients as safe, confident, and worry-free as possible. Read more about the changes Griffith Realty has made to our operating methods, how you are impacted as a buyer or seller, and how you can do your part to keep everyone safe while achieving your real estate goals. Contact us today to learn more.