As spring turns to summer, the Livingston County real estate market continues to heat up along with the weather. The latest trends show increases in inventory in Livingston County and decreases in the number of days that properties are spending on the market before being sold. Our real estate agents have all of the latest details in our report on June 2022 Market Activity in Livingston County.
June 2022 Market Activity in Livingston County
- Active Listings
The number of active listings in Livingston County continues to trend upward, with a total of 323 active listings in May 2022. That marks a 6 percent increase in active listings compared to May 2021 and a 27 percent increase in active listings when compared with May 2022. With active listings continuing to rise, buyers can expect to have more homes to choose from when shopping for real estate in Livingston County.
- Median Listing Price
As the number of active listings in Livingston County has grown, the median listing price has continued to rise as well. May 2022 saw a median listing price of $458,000, compared to $432,000 in April 2022 and $390,000 in May 2021. A rise in active listing price can be a sign that sellers are expecting strong interest in their listings.
- Average Days Spent on Market
In May 2022, properties in Livingston County spent an average of 14 days on the market, which is a positive sign for sellers who are considering listing their homes in the near future. The average number of days spent on the market decreased by 41 percent compared to May 2021, when properties spent an average of 24 days on the market before being sold.
- Median Sales Price
Like the median listing price, the median sales price for Livingston County homes has continued to rise over the past year. The median sales price in May 2022 was $375,000, compared to April 2022, when the median sales price was $357,000, and May 2021, when the median sales price checked in at $333,000.
- Units Sold in Livingston County
While many of the trends we've reviewed so far have been moving in a positive direction for sellers, the number of units sold in Livingston County has decreased slightly in recent months. There were 229 units sold in May 2022, compared to 232 units sold in April 2022 and 267 units sold in May 2021. That marks a 14 percent decrease in units sold year-over-year and a 1 percent decrease month-over-month. That slight decrease in units sold may indicate an opportunity for buyers to negotiate better terms when purchasing a home.
With interest rates on the rise again, it's more important than ever to have the right real estate team consulting you every step of the way. No matter the market conditions, an experienced agent can help you navigate it effectively.
Need a hand planning your next move in Livingston County? Our team is here to help with all of your local real estate needs. Contact us to buy and sell homes in the Livingston County, MI area.