LIVINGSTON COUNTY — Newly released data from Realtor.com shows that potential buyers and sellers in Livingston County saw homes selling for more in February than the previous month’s average sales price of $320,000.
The average home sold for $335,000, an analysis of Realtor.com data shows. This means that February, the most recent month for which figures are available, was up 4.7% compared to January.
Compared to February 2023, the median home sale price rose 4.2% to $335,000 compared to $321,450.
Realtor.com obtains real estate deed sales data, resulting in a few months of delay in updating the data. Statistics do not include homes currently listed for sale and are not directly comparable to listings data.
Information about the local real estate market, along with other useful community data, is available at data.livingstondaily.com.
Looking just at single-family homes, the median sales price of $321,500 in Livingston County increased 3.7% in February from $310,000 the previous month. Since February 2023, the sales price of single-family homes has increased 0.5% from a median of $320,000.
No single-family homes sold for $1 million or more during the month.
Condos and townhomes decreased 0.7% in sales price in February to a median of $341,000 from $343,487 in January. Compared to February 2023, the sales price for condos and townhomes rose 1.2% to $337,000. A condo or townhouse sold for $1 million or more during the month, compared to no recorded transactions of at least $1 million in February 2023.
Year over year, the number of sales recorded in Livingston County increased 26.8%, from 112 to 142. All residential home sales totaled $50.5 million.
In Michigan, homes sold for an average of $215,000 in February, up 7.5% from $200,000 in January. There were 7,122 sales recorded statewide during February, a 4% increase from the 6,849 sales recorded in February 2023.
The total value of recorded residential home sales in Michigan increased 2.4%, from $2 billion in January to $2.1 billion in February.
Of all residential home sales in Michigan, 3.12% of homes sold for at least $1 million in February, up from 0.67% in February 2023.
Single-family home sales prices in Michigan increased 3.8%, from a median of $194,761 in January to $202,107 in February. Since February 2023, the sales price of single-family homes statewide has increased 11.3% from $181,635.
Statewide, the sales price of condominiums and townhomes increased 9%, from a median of $252,000 in January to $274,750 in February. The median sales price for condominiums and townhomes increased 22.1% from the February 2023 median of $225,000.
The average home sales price used in this report represents the midpoint of all homes or units listed over a given period of time. The median offers a more accurate picture of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices and then dividing by the number of homes sold. The average can be skewed by a particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites nationwide, generated with data from Realtor.com. Please leave any comments or corrections to this story here. This story was written by Ozge Terzioglu.
This article originally appeared on Livingston Daily: Livingston County sales prices rise in February
