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23
July 2024 Market Activity in Livingston County
Is back-to-school season also shaping up to be home shopping season for you? There's still time left to shop for homes in Livingston County this summer, and keeping up with the latest market trends is a great way to stay ahead of the competition. That's why every month, we provide you with a snapshot of the real estate trends in Livingston County. Our real estate agents have the latest in our report on Livingston County Market Activity for July 2024.
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New Listings
New residential listings are the first item on the list, and we've seen a slight downward trend in new listings compared to this time last year. There were 242 new listings in June 2024, compared to 267 new listings in June 2023. That's a decrease of 9.4 percent, compared to the previous year. However, new listings are also up year-to-date, compared to last year. There 1,244 new listings through June 2023 compared to 1,268 new listings through June 2024, a year-over-year increase of 1.9 percent. -
Average Days on Market Before Sale
The average number of days that residential listings remain on the market before sale dropped significantly over the last few months, but did see a slight increase in June 2024. Homes spent an average of 22 days on the market before being sold in June 2024, compared to 19 days in June 2023. Year-to-date, average days on market before sale is numbers is up 6.1 percent, rising from 33 days through June 2023 to 35 days through June 2024. -
Median Sales Price & Percent of List Price Received
Next up is the median sales price, and that number is trending upward in the most recent data. The median sales price for residential units in June 2024 was $425,250, compared to a median sales price of $411,000. That marks an increase of 3.5 percent. Year-to-date, the median sales price is also up 3.5 percent, from $385,500 to $389,900. On average, homes received 101.8 percent of the list price in June 2024, compared to 101 percent of the list price in June 2023. Year-to-date, the percent of list price received increased from 100.2 percent through June 2023 to 100.7 percent through June 2024. -
Number of Units Sold
The number of units sold saw a slight dip last month, decreasing 10.1 percent from 208 units sold in June 2023 to 187 units sold in June 2024. When looking at the whole year, however, units sold is actually trending slightly upward. There were 878 units sold through June 2023, and 880 units sold through June 2024. That's an increase of 0.2 percent in units sold compared to last year. -
Inventory & Months of Supply
In total, the inventory of homes for sale is down slightly compared to the previous year. There were 350 units for sale in June 2023, compared to 337 units for sale in June 2024. That's a decrease of 3.7 percent compared to the previous year. Months of supply increased by 10 percent year-over-year, from 2.0 months of supply in June 2023 to 2.2 months of supply in June 2024.
Looking for the right team to help you achieve your goals? Our local team is here to help with all of your real estate needs. Contact us to buy and sell homes throughout the Livingston County, MI area.