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February
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February 2022 Market Activity in Livingston County
Keeping up with the latest real estate trends is part of the job for a real estate agent, but it can also be very beneficial to you as a buyer or seller. As always, there is plenty of data to evaluate on Livingston County real estate this month. Our real estate agents have all of the latest details in our report on February Market Activity for Livingston County.
- Active Listings
There were 186 active listings in Livingston County during January 2022, which continues a recent trend of decreasing inventory in the area. January 2022 saw active listings decrease by 23 percent compared to the previous year and by 13 percent compared to the previous month. A decrease in the number of active listings means that buyers may have fewer options to choose from, while sellers can potentially expect more competition from buyers who are interested in their listing. - Median Listing Price
In January, Livingston County properties had a median listing price of $440,000, continuing the recent trend of rising listing prices in the area. The median listing price was $414,000 in December 2021 and $377,000 in January 2021. An increase in the median listing price is often a sign that sellers expect that there will be more demand for homes than there are homes available on the market. - Average Days on Market
Properties in Livingston County spent an average of 29 days on the market during January 2022, compared to 36 days spent on the market in January 2021. That equates to a 19 percent decrease in the number of days that properties are spending on the market this January when compared to last year. A decrease in the number of days properties spend on the market is another sign that inventory turnover is strong in Livingston County. - Median Sale Price
The median sale price for Livingston County real estate in January was $305,000. Compare that to January 2021, when the median sale price was $309,000, and December 2021, when the median sale price checked in at $331,000. For buyers, a lower median sale price means that their budget may stretch further than it would otherwise. - Total Number of Units Sold
In total, Livingston County saw 137 units sold in January, a decrease of 30 percent compared to January 2021 when 196 units were sold and 36 percent compared to December 2021 when 216 units were sold. This is another potential positive trend for buyers, as fewer sales may mean the opportunity to negotiate more favorable terms on their purchase.
Whether you're ready to take advantage of the latest trends or you'd like a hand evaluating what it all means for you, our local real estate team is here to help. Contact us to buy and sell homes in the Livingston County, MI area.