2016 Sales Stats

Posted by Sam in Uncategorized

2016 sales stats are in and available for your review. Livingston county continues to experience an inventory shortage and quicker than average sales compared to other markets in Michigan.  Sales are seasonally affected to be highest in the late spring through early fall as shown in the graph below. The shape of this graph is pretty typical. What is different this past year is the impact the low inventory had on the volume. At the peak in 2016, we had an inventory of ~920 single family homes. Today – January 7 – the active inventory has reached a low of 427 listings!  Where low inventory typically helps prices rise, it also has the affect of keeping buyers at home as seeing one home at a time is for motivated buyers only.  This has been a problem for nearly 24 months making pent up demand a huge factor for a great spring in real estate.  So, if you are thinking of making a move it is a good idea to start planning now.