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15
May 2023 Market Activity in Livingston County
Is buying or selling a home in Livingston County at the top of your to-do list this summer? Then now is the perfect time to brush up on the latest market trends so that you can plan your next move with confidence. As always, our team keeps a constant eye on Livingston County real estate trends, so we can help you stay informed. Our real estate agents have all of the latest data for you in our May Market Activity Report for Livingston County.
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Active Listings
Spring is typically a very busy time for real estate in Livingston County, and the data suggests that this spring has been quite similar to last year. There were 272 active listings in Livingston County during April 2023, which marks a 2 percent increase from one year earlier and no increase or decrease compared to the previous month. So buyers can expect a slightly larger selection than one year ago, while sellers can have confidence that the level of competition will be about the same as last year. -
Median Listing Price
The median listing price trended upward in April 2023, both compared to the previous year and the previous month. The median listing price for April 2023 in Livingston County was $449,000. Compare that to the median listing price of $419,000 in March 2023 and the median listing price of $410,000 in April 2022. -
Average Days on Market Before Being Sold
The average number of days that properties spend on the market before being sold has also been trending upward over the last 12 months, and that trend continued in April 2023. Homes spent an average of 28 days on the market before being sold in April 2023, compared to spending 16 days on the market before being sold in April 2022. That marks a 75 percent year-over-year increase in days spent on market before being sold, which may be a sign that inventory turnover has slowed compared to one year ago. -
Median Sales Price
While it's been fairly consistent, the median sales price in Livingston County has moved slightly up and down throughout the last year. April saw the biggest increase in quite a bit, with the median sales price rising to $391,000. That's a substantial increase over March 2023, when the median sales price was $350,000, and over April 2022, when the median sales price was $356,000. -
Number of Units Sold
The number of units sold in Livingston County decreased in April 2023 compared to both the previous month and the previous year. There were 152 units sold in April 2023, compared to 163 units sold in March 2023 and 235 units sold in April 2022. That data marks a 35 percent decrease in units sold year-over-year and a 6 percent decrease in units sold compared to the previous month.
Ready to plan what's next? Whether you're buying or selling, our team is here to help you accomplish your real estate goals. Contact us to buy and sell homes throughout the Livingston County, MI area.