Local Housing Market Shows Continued Signs Of Improvement In January
Courtesy WHMI 93.5 ~ 2.15.16
The housing market warmed up a bit in January in Livingston County. The latest statistics for January home sales in Livingston County show a 17.3% increase from January of 2015, which was the best across Metro Detroit. The numbers from Realcomp II Limited also indicate the median sale price of local homes last month was $193,950, the highest among the seven counties in the region. Meanwhile, the Livingston County Association of Realtors says that when it comes to inventory, 817 homes and condos were on the market January 31st; which was a record low. Association President Todd Buckley says overall, buyers are telling them they want more homes to choose from and fewer buyers to compete with. The number of non-foreclosure sales was also up from last year and statistics show the average days on the market for all homes was 65. The analysis noted that bank-owned or short sales, also known as distressed sales, represent only about 10% of the sales in Livingston County. That’s down from about 15% a year ago and more than 66% in January of 2008, at the height of housing crisis. (JM/JK)
Leave a Comment