Homes in Monroe County have recently sold for lower prices: See how much here

Newly released data from Realtor.com March shows that potential buyers and sellers in Monroe County saw homes sell for less than the previous month’s median sales price of $233,000.

The average home sold for $227,450, an analysis of Realtor.com data shows. This means that March, the most recent month for which data is available, was down 2.4% compared to February.

Compared to March 2023, the median home sale price rose 7.5% to $227,450 compared to $211,500.

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.monroenews.com.

Looking just at single-family homes, the median sales price of $221,000 in Monroe County fell 2.9% in March from $227,500 the previous month. Since March 2023, the sales price of single-family homes has increased 10.5% from a median of $200,000.

No single-family homes sold for at least $1 million or more during the month.

Condos and townhomes decreased 7.3% in sales price during March to a median of $287,500 from $310,000 in February. Compared to March 2023, the sales price of condominiums and townhouses fell 0.9%, from US$290 thousand. No condominiums or townhouses sold for at least $1 million or more during the month of March.

In March, the number of recorded sales in Monroe County fell 15.3% from March 2023, from 144 to 122. All residential home sales totaled $28.9 million.

In Michigan, homes sold for an average of $220,000 in March, up 2.3% from February’s $214,988. There were 8,421 sales recorded statewide during March, a 16.8% drop from the 10,124 sales recorded in March 2023.

The total value of recorded residential home sales in Michigan increased 5.9%, from $2.1 billion in February to $2.2 billion in March.

Of all residential home sales in Michigan, 1.43% of homes sold for at least $1 million in March, up from 0.9% in March 2023.

Single-family home sales prices in Michigan increased 5%, from a median of $200,000 in February to $210,000 in March. Since March 2023, the sales price of single-family homes statewide has increased 5% from $200,000.

Statewide, the sales price of condominiums and townhomes fell 5.4%, from a median of $274,750 in February to $260,000 in March. The average sales price for condominiums and townhomes fell 1.9% from the median of $265,000 in March 2023.

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.

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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 in The Monroe News: Homes in Monroe County have recently sold for lower prices: See how much here