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September Market Activity in Livingston County
As we make our way into autumn, many men and women are strongly considering settling into a house in Livingston County. Dozens of families, professionals, and students have weighed their options throughout the summer and are now ready to decide whether or not they're ready to begin the next chapter of their lives in a welcoming new home. Our real estate agents at Griffith Realty are aware that your interests in buying or selling real estate may be changing right now as elements of your social and professional lives begin to normalize. Rest assured that you are not alone in this decision; many other homeowners and home sellers throughout Livingston County are weighing the same options.
Current Market Activity in Livingston County
The real estate industry has continued to overcome the challenges presented by the pandemic. With new processes in place to help individuals achieve their real estate goals while keeping health and safety a top priority, buyers and sellers around the country are becoming more comfortable in moving forward with their real estate plans.
During the month of August, Griffith Realty is pleased to report these Livingston County market trends:
- While the number of listing year-over-year was down 40 percent, listing numbers only decreased by 12 percent from July to August.
- The median listing price for the month was $375,000, which is an increase from July's average of $364,000 and last August's $329,000 average listing price.
- Homes for sale in Livingston County in August were on the market for an average of 37 days, compared to an average of 30 days last year.
- The median sale price for a home increased from $275,000 last year and $297,000 in July to $300,000 for August of 2020.
- While the number of units sold in Livingston County decreased from 377 in July to 325 in August, it did signal a 4 percent increase from the previous year.
What does this mean for buyers and sellers in Livingston County? Those who waited until the end of the summer to house hunt may have had fewer homes to tour. With limited inventory, sellers felt more confident listing for slightly higher prices, especially since homes were on the market only one week longer than the previous year. A slight increase in the median sale price, as well as a slight increase in the number of units sold from the previous year, may signal that the buyer's market is becoming more populated.
Real Estate Transactions Throughout Our New Normal
As we continue to watch market trends, it's clear that Livingston County is showing healthy signs as the summer came to a close. If you are now starting to consider buying or selling property around Livingston County and would like to learn about the new protocols in place to preserve your health and safety during real estate transactions, we encourage you to contact us.