Livingston Median Sales Prices Up!

The June 2011 statistics from RealComp II,Ltd., our local multilist system (MLS) are available.

The glaring statistic I see is that Livingston County is faring a bit better than the Metro Detroit tri-county area. Detroit, Oakland and Macomb County aggregate figures indicate a 13.3% median sales price drop, but Livingston had an increase of 5.4%.

Also, Livingston County homes are selling faster. A full 68% of homes that sold actually closed within 90 days, and almost 76% closed within 120 days. Condos reported similar time frames at 67.5% for 90 day closings and 81% for 120 day closings.

The sheer numbers of listings have dropped dramatically, too. With less inventory, buyers are being more aggressive when they find a property they like. Let’s look at condominiums, which typically have a higher inventory to sales ration that detached single family homes.

In June 2009, there were 321 units available with 21 sales (6.5%). In 2010, that figure increased to 31 sales with a significantly lower inventory of 179 units available (17.3%). This June, there were 128 units available and 37 sales, for 28.9% of inventory selling.

Of course condo living doesn’t suit everybody’s life style, but for those that are a good match, they are a great option. Not sure if you’re right for condo living? Give me a call to discuss the pros and cons. Even if you are a good match for a condo, you may not be right for a certain community. My 13 years of experience in Livingston County can help you focus your search to a community that is a great match for you.