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22
January 2024 Market Activity in Livingston County
The start of a new year is the perfect time to take a fresh look at your real estate goals and lay out your plan for the year to come. Whether you're buying or selling a home in 2024, one thing that you can do to give yourself an advantage is to develop your understanding of the latest market trends. Your understanding of the market can help you reveal opportunities others might miss, and let you know when the time is right to make your move. Our real estate agents are here to help you plan ahead, starting with our report on Livingston County Market Activity for January 2024.
- Active Listings
Overall, there were 248 active listings in Livingston County during December 2023, which marks a decrease compared to recent data. The number of active listings was down 27 percent when compared with December 2022, and down 25 percent when compared to the data from November 2023. If you're considering purchasing a home then a decrease in active listings may mean that there are fewer homes to choose from, while as a seller fewer active listings means less competition for attention with your own listing. -
Median Listing Price
Next up, the median listing price, which has remained quite similar over the various recent data points that we collect. The median listing price for December 2023 was $434,000, indicating a slight increase over the most recent previous data. Compare the December 2023 median listing price to the median listing price of $429,000 in November 2023, and the median listing price of $425,000 in December 2022. -
Average Days on Market Before Sale
Homes often spend more time on the market in general during the holiday season, and the number of days spent on the market before sale has been trending upward over the last 12 months. Homes spent an average of 45 days on the market before being sold in December 2023, compared to 38 days on the market before being sold in December 2022. Overall, that's an increase of 18 percent in days spent on the market when compared to the previous year. -
Median Sales Price
The median sales price for Livingston County properties has been increasing over the last year and saw a significant further increase in the latest data. The median sales price for December 2023 was $379,000, a substantial increase over the median sales price of $340,000 in November 2023, as well as the median sales price of $337,000 in December 2022. -
Number of Units Sold
With the number of active listings down when compared to previous years, it's no surprise that the number of units sold has a similar trend. There were 134 units sold in Livingston County during December 2023, compared to 169 units sold in November 2023 and 148 units sold in December 2022. That's an 8 percent decrease in units sold when compared to the previous year and a 20 percent decrease in units sold when compared with the previous month.
Are you ready to turn your Livingston County homeownership dreams into reality in 2024? 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.