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May 2022 Market Activity in Livingston County
Planning to buy or sell a home in Livingston County this summer? Understanding the latest real estate trends is one of the key ingredients in the recipe for accomplishing your goals, and our team always has an eye on the data to help you stay informed. That data can give you an edge over the competition, whether you're making an offer or positioning your home for a sale. Our real estate agents have all of the latest details in our Livingston County Market Activity report for May 2022.
- Active Listings
The number of active listings in Livingston County has been trending in a positive direction in recent months, and that trend continued strongly in April 2022. There were 245 active listings in Livingston County during April, which represents a slight 7 percent decrease year-over-year, but a significant 20 percent increase in active listings compared to the previous month. An increase in active listings typically means more selection for buyers and an increase in competition for sellers. - Median Listing Price
The median listing price in Livingston County has been trending upward over the last year as well, and that trend continued during April. The median listing price for April 2022 was $439,000, compared to $424,000 in March 2022 and $397,000 in April 2021. - Average Days Spent on Market
The average days spent on the market for listings is a great way to gauge inventory turnover, and these numbers are trending in a positive direction too. Properties spent an average of 18 days on the market in April 2022, compared to 29 days on the market in April 2021. That marks a 37 percent decrease year-over-year, which is positive news for anyone considering listing a home this summer. - Median Sales Price
The median sales price for Livingston County real estate has fluctuated somewhat in recent months but continues to remain higher in 2022 than it was in 2021. In April 2022, the median sales price was $357,000. While that is a decrease compared to the March 2022 median sales price of $375,000, it's still a substantial increase over April 2021, when the median sales price was $327,000. - Units Sold in Livingston County
Just like the number of active listings, the number of units sold in Livingston County has been trending strongly in the right direction during recent months. There were 216 units sold in April 2022, compared to 177 units sold in March 2022 and 235 units sold in April 2021. Overall, that's a small decrease of 8 percent year-over-year, but a strong increase of 22 percent in units sold compared to the previous month.
When you're ready to turn knowledge into action, our local team is here to help with all of your Livingston County real estate needs. Contact us to buy and sell homes throughout the Livingston County, MI area.