Detroit Real Estate

Here is a quick Livonia real estate update.  You can get get the information from the table below where it breaks down the information by price points.  Currently there are 103 Livonia homes for sale that have been on the market an average of 325 days.  The lowest price of a a piece of Livonia real estate was $11,000. 

In the last 30 days 59 Livonia homes have sold.  The average time on the market was 82 days

In November 77 Livonia homes sold that had been on the market an average of 92 days.

In October 90 Livonia homes sold that had been on the market an average of 94 days.

In September 69 Livonia homes sold that had been on the market an average of 83 days.

In August 93 Livonia MI homes sold that had been on the market an average of 82 days. 

So basically from August to November houses were selling fairly quickly.  Then in December either because of less homes on the market or a weak market the homes started slowing down.  So this table basically tells me that some of these Livonia MI homes for sale are over priced for the condition they are in.  They have been on the market  too long.

Currently Livonia has about a 5 1/2 month housing inventory.  As a general rule, 5 to 6 months of inventory is considered to be a normal or balanced market. Over 6 months of inventory and we have buyer's market. Less than 5 months and we have a seller's market. The smaller the available inventory, the tighter the market is. Keep in mind that these are simply guidelines and will differ from market to market.

Right now Livonia MI homes are being snapped up if they are priced right.

 If you have any questions about this Livonia Real estate update feel free to give me a call or email me.

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