LIVINGSTON COUNTY – Newly released data from Realtor.com shows potential buyers and sellers in Livingston County saw homes sell for more in February than the $320,000 median sales price of the previous month.
The average home sold for $335,000, according to an analysis of data from Realtor.com. This means that February, the most recent month for which figures are available, was 4.7% higher than January.
Compared to February 2023, the median home sales price was up 4.2% to $335,000, up from $321,450.
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.livingstondaily.com.
Looking only at single-family homes, the median sales price of $321,500 in Livingston County in February was 3.7% higher than $310,000 the month before. Since February 2023, single-family home sales prices have increased 0.5% from an average of $320,000.
No single-family homes sold for $1 million or more this month.
Condominiums and townhomes fell 0.7% in sales price in February to an average of $341,000, compared to $343,487 in January. Compared to February 2023, the sales price of apartments and townhomes was up 1.2% from $337,000. One condominium or townhouse sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in February 2023.
On a year-over-year basis, the number of recorded sales in Livingston County increased 26.8% from 112 to 142. All residential sales totaled $50.5 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 on Livingston Daily: Livingston County sales prices rise in February
