Livonia Michigan Real Estate Market Update January 2015

February 20, 2015 by

Livonia Michigan Real Estate Market Update January 2015

Livonia Michigan City Hall

Livonia Michigan City Hall

2015 is off to be another strong growth year for Livonia home sales.  As we started our climb back after the deep cuts from the recession we are now starting to look to stabilize with a firm footing.  Basically I noticed in around mid 2011 a boom start to take place, easy to do when prices were so low and interest rates low also.  Now around 3 years later we are still growing, maybe not the full crazy big growth we have been seeing but more a nice stable feel to the start of 2015.  I must say that being out there in Livonia everyday I am very impressed with how good the market is doing in early 2015 even with the cold and snow we are experiencing.

It seems the biggest growth we are seeing in Livonia to start the year is in the zip code area of 48154.  I will use those numbers for this update:   48154 is experiencing about a 45% increase in new listings in January 2015 vs. January 2014.  Also reporting about a 35% increase in sold properties in 2015 January vs the same time period of 2014.  We have also seen the average sales price go up to $156,000 from $148,250 same period 2014.

If you are looking to buy or sell in Livonia in the near future please feel free to visit our website at www.BobandTeena.com anytime.  You can email us at BobandTeena@Yahoo.com or call direct at 734-578-6561.

 

Market Report – January 2015 General MLS area for all of Livonia and surrounding area’s

 
Highlights and Analysis
 •  Median sale price for All MLS sales increased to $124,000 – up 15%
•  This is the 3rd year in a row the January Median Price has increased
•  All MLS sales were down by 6.1% for Jan compared to Jan 2014
Synopsis of Inventory
•  Average Days On-Market increased by 1 day, from 57 to 58
•  The on-market inventory increased by 5% from 19,263 to 20,260
•  8% of tour inventory is designated as a bank foreclosure – Down 6%
Over the Last 10 Years…
•  January sales reached a high in 2013 at 4,855
•  January sales reached a low 2007 at 2,985
•  January DOM reached a high in 2007 at 122
•  January DOM reached a low in 2013 at 57
•  January Median Price reached a high in 2006 at $145,000
•  January Median Price reached a low in 2009 at $47,000
This statistical information, although not guaranteed, is from data we believe reliable. This statistical information is not to be reproduced or redistributed either now or in the future without express written consent from Realcomp.

 

Filed Under: Livonia Michigan Real Estate Market Update