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January Market Activity for Livingston County
It's a New Year, and for many men and women, it's an opportunity to reconsider their real estate goals. Our real estate agents completely understand why you may have paused your listing plans in 2020. The sudden disruption of the year, coupled with uncertainty for the immediate future, created a valid reason why it may not have been the right time to buy or sell a home. We want all of our potential clients to know that we prioritize your comfort and confidence above all else.
End of Year Market Activity in Livingston County
With 2020 in the books, we can now look back on the year and see how real estate trends in Livingston County have reacted to the pandemic. Though we're still far from a return to normalcy, it's clear that more and more homebuyers and homeowners became comfortable and confident in buying or selling property as the year progressed. Our team at Griffith Realty believes that the current data shows just how much more hopeful these individuals have become.
During December, Livingston County certainly delivered interesting results, specifically:
- The number of active listings decreased by 60 percent from the previous year and 24 percent from the previous month. Total active listings in Livingston County for the month of December were 248.
- The median listing price for homes in December 2020 was $359,000. This is an increase from both November 2020s $350,000 and December 2019's $335,000.
- The average days these properties were listed on the market decreased by 17 percent, dropping from 52 days in December of 2019 to 43 days in December of 2020.
- The median sale price for these properties in December of 2020 was $299,000, an increase from November 2020s $290,000 and December 2019's $265,000.
- The number of units sold in Livingston County during December increased by 3 percent year over year (from 219 in December 2019 to 261 in December of 2020) and decreased 13 percent month to month (from 261 in November 2020 to 227 in December).
How can this information help provide clarity in your decision to buy or sell a home in Livingston County this month? The decrease in active listings may be a sign that buyers were interested in finalizing their home search before the New Year. This is backed up by the fact that the units sold increased year over year and that their average days listed on the market were lower. The increase in median listing price may be assigned that sellers know units are limited; the increase in sale price suggests that buyers weren't willing to take the risk of being outbid.
New Year, New Real Estate Trends in the Livingston County Market
In 2021, our team will closely analyze monthly and yearly data to pinpoint where these trends seem to provide the maximum benefits to buyers and sellers. If you're interested in listing your home or exploring the market around Livingston County, we encourage you to contact us today.