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December
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December 2022 Market Activity In Livingston County
Is shopping for a home in Livingston County at the top of your to-do list as we turn the calendar to 2023? Planning ahead can make accomplishing your goals much easier, and getting up to date on the latest local real estate trends is the perfect place to start. Ready to start shopping? Our real estate agents have the latest data on real estate in Livingston County with our Market Activity Report for December 2022.
- Active Listings
The number of active listings in Livingston County was up by 73 percent in November compared to one year earlier, with a total of 369 active listings during the month. However, new listings actually decreased compared to the numbers that were posted in recent months. New listings were down by 13 percent in November 2022 when compared with October 2022. Still, with the significant increase in inventory compared to one year ago, buyers will have a large selection of homes to choose from as we turn our attention toward 2023. - Median Listing Price
The median listing price for Livingston County real estate was $399,000, which marks a slight decrease compared to the previous month, and a similarly sized increase compared to the previous year. The median listing price for October 2022 was $424,000, while the median listing price for November 2021 checked in at $374,000. - Average Days on Market Before Sale
The average number of days that homes spent on the market before being sold has been trending slightly upward in recent months, and that trend continued in November 2022. Homes spent an average of 32 days on the market in November 2022, compared to spending an average of 30 days on the market in November 2021. Overall, that adds up to a 6 percent increase in days spent on the market compared to last year, which can be an indication of a slight slowdown in inventory turnover. - Median Sales Price
Similar to the median listing price, the median sales price in Livingston County has fluctuated somewhat over the last year while still remaining in a similar ballpark. The median sales price for November 2022 was $345,000, compared to $346,000 in October 2022 and $335,000 in November 2021. - Number of Units Sold
As the calendar turns toward winter, it's normal for the pace of real estate sales to slow down compared to the warmer months. That trend was on display last month, with the 149 properties sold in Livingston County marking a 45 percent decrease compared to the previous year and a 30 percent decrease compared to the previous month. During seasons with slower sales, buyers may be able to uncover opportunities that simply wouldn't be available during busier times of the year.
The new year is a time of new beginnings, and we'd love to help you find a new home that you'll love for many years to come. Contact us to buy and sell homes throughout the Livingston County, MI area.