Whether you're shopping for a Livingston County home during the holiday season or getting prepared for your real estate plans in 2025, now is the perfect time to brush up on the latest market trends. This time of year is typically slower for real estate than the warm-weather months, which comes with its own advantages and disadvantages. The data can help you identify opportunities that others might miss. Our real estate agents have all of the latest for you in our Livingston County Market Activity report for November 2024.

• New Listings
  Much of the data from October 2024 is trending ahead of where it was one year ago, including the number of new listings on the market. There were 241 new residential listings in Livingston County during October 2024, compared to 203 new listings in October 2023. That's an 18.7 percent increase in new listings, compared to one year ago. The year-to-date data shows a similar trend. There were 2,355 new listings through October 2024, compared to 2,174 new listings through October 2023. That equates to an 8.3 percent increase in new listings through October 2024 compared to last year.

• Average Days on Market Before Sale
  With an increase in inventory, homes are also spending more average days on the market before sale in 2024. Homes spent 41 days on the market before being sold in October 2024, compared to 28 days in October 2023. In total, that's an increase of 46.4 percent in days spent on market compared to last year. Year-to-date, homes have spent an average of 35 days on the market through October 2024 compared to 28 days through October 2024, a year-to-date increase of 25 percent.

• Median Sales Price & Percent of List Price Received
  The trend of rising numbers continues with our look at the median sales price for residential listings in Livingston County, which checked in at $429,000 in October 2024. Compare that to October 2023, when the median sales price was $384,000, and you'll see an increase of 12 percent compared to last year. The year-to-date data for median sales price is similar, with a 4.4 increase through October 2023 when the median sales price was $388,000 compared to the median list price through October 2024 of $405,000.
  
  Homes received an average of 99.5 percent of the list price in October 2024 compared to 100 percent in October 2023, a year-over-year decrease of 0.5 percent. Year-to-date, percent of list price received remained static between 2023 and 2024 at 100.3 percent.

• Number of Units Sold
  Once more, the percentage of closed sales was trending upward in October 2024. There were 193 closed sales in October 2024 compared to 162 in October 2023, an increase of 19.1 percent. The number of closed sales is also up year-to-date, with 1,662 sales through October 2024 compared to 1,621 sales through October 2023, a year-to-date increase of 2.5 percent.

• Inventory & Months of Supply
  The number of homes for sale was up as well, though to a smaller degree than most of the other data on our list. There were 384 homes for sale in Livingston County during October 2024, compared to 377 homes for sale in October 2023. So overall, inventory was up 1.9 percent compared to last year. Months of supply checked in at 2.4 in both October 2023 and October 2024, remaining static.

Ready to plan your next move in Livingston County? Our local team is here to help you accomplish your real estate goals. Contact us to buy and sell homes throughout the Livingston County, MI area.