Newly released data from Realtor.com for February shows potential buyers and sellers in Monroe County saw homes selling for higher than the previous month’s median sales price of $176,750.
The average home sold for $233,000, according to an analysis of data from Realtor.com. That means February, the most recent month for which figures are available, was 31.8% higher than January.
Compared to February 2023, the average home sales price was up 18.9% to $233,000, up from $196,000.
Realtor.com pulls sales data from real estate deeds, resulting in a delay of a few months in up-to-date data. The statistics do not include homes currently for sale and are not directly comparable to listing data.
Information about your local housing market, along with other useful community data, is available at data.monroenews.com.
Looking just at single-family homes, the median sales price of $227,500 in Monroe County was up 29.4% in February, up from $175,875 the month before. Since February 2023, single-family home sales prices have increased 17.9% from an average of $193,000.
No single-family homes sold this month for at least $1 million or more.
Sales prices for condos and townhomes rose 40.9% in February to an average of $310,000, compared to $220,000 in January. Compared to February 2023, the sales price of apartments and townhomes was up 24% from $250,000. No condos or townhomes sold for at least $1 million or more in February.
In February, the number of recorded sales in Monroe County since February 2023 increased 32.6% from 95 to 126. All residential sales totaled $30.3 million.
In Michigan, homes sold for a median value of $215,000 in February, up 7.5% from $200,000 in January. There were 7,122 sales recorded across the state in February, a 4% increase from the 6,849 sales recorded in February 2023.
The total value of recorded home sales in Michigan rose 2.4% from $2 billion in January to $2.1 billion in February.
Of all 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 rose 3.8% from an average of $194,761 in January to $202,107 in February. Since February 2023, the sales price of single-family homes across the state has increased 11.3% from $181,635.
Across the state, sales prices for condos and townhomes rose 9%, from an average of $252,000 in January to $274,750 in February. The median sales price of condos and townhomes is up 22.1% from the median of $225,000 in February 2023.
The median home sales price used in this report represents the midpoint of all homes or units listed during the given period. The median provides a more accurate picture of what’s happening in a market than the average sales price, which would involve taking the sum of all sales prices and then dividing it by the number of homes sold. The average can be distorted by one 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 feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared in The Monroe News: Homes in Monroe County have sold for higher prices recently: see how much here
