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February 2023 Market Activity in Livingston County
Do you have dreams of buying or selling your next home in Livingston County this spring? Knowledge is power, especially when you're contemplating important financial choices. With one of the busiest times of year for real estate waiting just around the corner, now is the perfect time to brush up on the latest market trends so you can be confident that you're making informed decisions. Our real estate agents have the latest details on Livingston County trends in our February 2023 Market Activity Report.
- Active Listings
There were 285 active listings in Livingston County during January 2023, a significant increase compared to the previous year but also a slight decrease in active listings compared to the previous month. It all adds up to a 64 percent increase in active listings year-over-year and a 13 percent decrease in active listings month-over-month. With active listings still up significantly compared to this time last year, buyers can expect more homes to choose from in Livingston County. - Median Listing Price
Like the number of active listings, the median listing price in Livingston County has risen and fallen at different points over the last 12 months. The median listing price for Livingston County properties in January 2023 was $400,000, a slight increase compared to January 2022 when the median listing price was $395,000, and a more substantial decrease compared to December 2022 when the median listing price checked in at $425,000. - Average Days on the Market Before Being Sold
As inventory for Livingston County has continued to trend upward overall during the last year, the number of days that listings are spending on the market before being sold has also seen an upward trend. Homes spent an average of 46 days on the market before being sold in January 2023, compared to spending 30 days on the market before being sold in January 2023. Add it all up, and the number of days spent on the market has increased by 53 percent compared to the previous year. - Median Sales Price
Despite the increase in active listings as well as the longer time that homes have spent on the market before being sold, sellers will be happy to hear that the median sales price in Livingston County has continued to trend upward over the last 12 months. The median sales price in Livingston County for January 2023 was $345,000, compared to $335,000 in December 2022 and $299,000 in January 2022. - Number of Units Sold
The number of units sold in Livingston County has been trending downward overall in recent months, and that trend continued in the most recent data. With 78 properties sold in January 2023, sales were down quite significantly compared to recent trends. There were 144 properties sold during December 2022 and 148 properties sold in January 2022. That equates to a 47 percent decrease in properties sold compared to the previous year and a 45 percent decrease in properties sold compared to the previous month.
Ready to turn information into action? When you're ready to buy or sell your next Livingston County home, our knowledgeable, local real estate team is here to help you accomplish your goals. Contact us to buy and sell homes throughout the Livingston County, MI area.