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November 2022 Market Activity in Livingston County
If you're thinking of purchasing a home in Livingston County, the holiday season can be an underrated time to shop, with sellers who are motivated to close the deal and less competition from other buyers who may be taking a break from their search during the holidays. Equipping yourself with knowledge of the latest local real estate trends is a key step in planning ahead, whether you're buying, selling, or just looking. Our real estate agents have all of the latest details on Livingston County real estate in our Market Activity Report for November 2022.
- Active Listings
There were a total of 407 active listings in Livingston County during October 2022, which marks a significant increase when compared with the previous October. New listings were up by a total of 62 percent compared to the previous year, a sign that buyers today will have more options to choose from today than they have in the recent past. Compared to the previous month, however, new listings did see a slight decrease of 7 percent. - Median Listing Price
The median listing price for Livingston County real estate has largely held steady in recent months, though it has increased compared to the previous year. The median listing price for October 2022 was $425,000, just a slight increase compared to the September 2022 median listing price of $422,000. The increase over the past year is more substantial compared with the October 2021 median listing price of $379,000. - Average Days on Market Before Sale
The average number of days that homes spent on the market in Livingston County before being sold was 28 days in October 2022, and that number has largely held steady over the last 12 months. Compare the October 2022 data with October 2021, when properties spent an average of 27 days on the market before being sold. That's just a 3 percent increase year-over-year and a sign that inventory turnover remains strong even with an increased number of active listings in 2022. - Median Sales Price
Like the median listing price, the median sales price has been very similar in recent months while showing a more substantial increase when compared with the previous year. The median sales price for October 2022 was $348,000. Compare that to the September 2022 median listing price of $350,000 and the October 2021 median listing price of $330,000. - Number of Units Sold
The number of units sold in Livingston County has declined over the course of the last 12 months, with 202 units sold in October 2022, compared to 260 units sold in September 2022 and 292 units sold in October 2021. That's equal to a 22 percent decrease in the number of units sold compared to the previous month and a 30 percent decrease compared to the previous year.
When you're ready to turn information into action, our local team is here to help you accomplish your real estate goals. Contact us to buy and sell homes throughout the Livingston County, MI area.