As the summer heats up, Livingston County's real estate market continues to move at a brisk pace. The most recent market data is highlighted by inventory growth, a substantial decrease in the number of days homes are spending on the market before being sold, and a slight decrease in median sales price compared to the spring. Our real estate agents are here to keep you informed with all of the latest data on Livingston County Market Activity for July 2022.
- Active Listings
One trend to watch is the number of active listings in Livingston County, which increased by 27 percent compared to the previous year and 24 percent compared to the previous month, with a total of 407 active listings in June 2022. Increases in active listings add to the strong inventory in Livingston County while creating more options for any buyer who's been searching for the perfect home in the area.
- Median Listing Price
The median listing price of $449,000 for Livingston County homes in June 2022 marks a slight decrease for the first time in recent months compared to the median listing price of $455,000 in May 2022. However, it's still a substantial increase compared to the previous year, when the median listing price checked in at $389,000 in June 2021.
- Average Days Spent on Market
If you're considering listing a home for sale, then the average number of days that Livingston County homes spent on the market before being sold is of special interest. There's good news in that regard for sellers, with homes spending an average of 14 days on the market before being sold in June 2022. That is a significant, 50 percent decrease compared to June 2021, when homes spent an average of 28 days on the market before being sold.
- Median Sales Price
The median sales price is trending in a similar way to the median listing price, with a slight, month-over-month decrease for the first time in recent months. The median sales price in Livingston County for June 2022 was $370,000, compared to $375,000 in May 2022. Compared to the previous year's mark of $340,000 in June 2021, the median sales price is still on the rise year-over-year.
- Units Sold
June 2022 saw 231 units sold in June 2022, a slight, 2 percent decrease compared to May 2022 when 237 units were sold. The decrease is more substantial year-over-year, with a 25 percent decrease compared to June 2021 when 310 units were sold in Livingston County.
Need a hand buying or selling your next Livingston County home? Our local team is here to help with all of your real estate needs. Contact us to buy and sell homes throughout the Livingston County, MI area.