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September 2024 Market Activity in Livingston County
Whether you're buying or selling, the difference in real estate trends between summer and fall can be significant. That's just one of many reasons why it's important to be prepared, and brushing up on the latest Livingston County real estate data is the perfect place to start. Our real estate agents have all of the latest for you in our report on Livingston County Market Activity for September 2024.
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New Listings
The data for August 2024 shows increases in a number of key categories for Livingston County real estate, including the number of new listings on the market. There were 302 new residential listings in Livingston County during August 2024, an increase of 14.8 percent from August 2023, when there were 263 new listings. The year-to-date data on new listings is up 6.4 percent, from 1,747 new listings through August 2023 to 1,858 new listings through August 2024. With a larger number of new listings than the previous year, selection was up for buyers this August. -
Average Days on Market Before Sale
Alongside the number of new listings, the average days that residential listings spent on the market before sale was also up during August. Homes spent an average of 25 days on the market before the sale in August 2024, compared to 23 days on the market before the sale in August 2023. That's an increase of 8.7 percent in average days spent on market before sale. Year-to-date, homes spent an average of 34 days on the market before sale through August 2024, compared to 29 days on the market through August 2023. That marks an increase of 17.2 percent in the year-to-date statistics. -
Median Sales Price & Percent of List Price Received
The median sales price for residential listings in Livingston County was up 3.8 percent, increasing from $385,235 in August 2023 to $400,000 in August 2024. The median sales price has also been on the rise by 3 percent in the year-to-date data. The median sales price was $389,900 through August 2023 and checked in at $401,700 through August 2024. -
Number of Units Sold
While most other numbers were up, closed sales were down slightly in August 2024. There were 185 closed sales in August 2024 compared to 193 closed sales in August 2023, a decrease of 4.1 percent compared to the previous year. Year-to-date closed sales were down 1.2 percent, decreasing from 1,289 through August 2023 to 1,274 through August 2024. -
Inventory & Months of Supply
Last up is inventory, which was also on the rise in August. The inventory of homes for sale was 419 in August 2024, compared to 380 in August 2023. That's an increase in inventory of 10.3 percent, year-over-year. Months of supply were also up, increasing 17.4 percent from 2.3 months of supply in August 2023 to 2.7 months of supply in August 2024.
Ready to take your next steps toward your Livingston County real estate goals this fall? 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.