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January
23
23
January 2023 Market Activity in Livingston County
Is buying or selling your next home in Livingston County at the top of your list of New Year's resolutions for 2023? With the holiday break in the rear-view mirror, now is the perfect time to start studying the market, brushing up on the latest trends, and developing a plan to accomplish your real estate goals this year. Our real estate agents are here to help with our Livingston County Market Activity Report for January 2023.
- Active Listings
While the number of active listings has risen sharply over the last year, it did show a decrease in December 2022 during the heart of the holiday season. There were 316 active listings in Livingston County during December 2022, a 19 percent decrease compared to November 2022 but also a 73 percent increase over the number of active listings in December 2021. - Median Listing Price
The median listing price for properties in Livingston County was $422,000 in December 2022, continuing a steady increase over the last 12 months. The median listing price was $400,000 in November 2022 and $380,000 in December 2021. Despite the rise in the median listing price, the median sales price has remained more consistent – which you'll see in detail a little further down the list. - Average Days on the Market Before Being Sold
With the number of active listings rising, it's not surprising that homes are spending a bit more time on the market during December 2022 than they did in December 2021. Homes spent an average of 39 days on the market in December 2022, compared to spending 32 days on the market in December 2021. That's a 19 percent increase in days spent on the market compared to the previous year and a potential sign that inventory turnover has slowed down over the same time period. - Median Sales Price
Unlike some of the other data in our Market Activity Report, the median sales price for properties in Livingston County has remained quite consistent over the last year. The median listing price checked in at $342,000 during December 2022, compared to $345,000 in November 2022 and $331,000 in December 2021. While the median listing price has fluctuated more widely, the median sales price looks very close to what it was this time last year. - Number of Units Sold
There were 133 properties sold in Livingston County during December 2022, compared to 159 properties sold in November 2022 and 221 properties sold in December 2021. The data equates to a 16 percent decrease in properties sold compared to the previous month and a 39 percent decrease in properties sold year-over-year. With the number of active listings increasing over the previous year and the number of units sold decreasing, buyers may be able to find more bargains than they would have at this time one year ago.
See something you like in the latest data? Whether you're buying or selling, our local team is here to help you plan your next steps. Contact us to buy and sell homes throughout the Livingston County, MI area.