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Livingston County Real Estate is a Seller's Market

The median sale price of a home or condo was up in September from the same month last year by 28.7 percent, according to figures released Monday by Farmington Hills-based Realcomp.

Metro Detroit home sales were down slightly in September for the first time in a year, but prices continue to climb, according to figures released Monday by Farmington Hills-based Realcomp.

The good news is the median sale price of a home or condo in Metro Detroit was up in September from the same month last year by 17.3 percent. Oakland County led the way with a 28.7 percent increase, followed by Wayne County with a 14.9 percent increase and Macomb and Livingston with increases of 11.1 and 10 percent, respectively.

Realcomp defines Metro Detroit as Oakland, Wayne, Livingston and Macomb counties.

[View homes for sale in Brighton and Hartland.]

Brighton Realtor Scott Bohlen of Preview Properties said it is a seller's market.

"My opinion is we're starting to see the effects of low inventory - there's really not a lot out there for sale," Bohlen said. "And when I say not a lot out there, I mean there's a number of properties, but thenumber of properties that are in move-in condition, that are priced at market value is very small. And those properties sell in a week and lots of times with multiple offers."

Bohlen said that the housing market is very strong because there's a demand for houses, a lot of buyers and interest rates are very low.

Realcomp: September Livingston County Real Estate By The Numbers

  • Listings: In 2012, there were 1,248 residential and condos listed for sale, compared to 1,305 in 2011, which resulted in a 4.4 percent decrease in properties on the market.
  • The number of foreclosure sales dropped significantly, 20.8 percent, with 61 in 2012 and 77 in 2011.
  • The number of non-foreclosure sales dropped slightly, about 5.6 percent, from 177 in 2011 to 167 in 2012.
  • There was a 10.2 percent decrease in homes sold. In September 2012, 228 homes sold, compared to 254 in 2011.
  • The median sale price for foreclosures has dropped by .5 percent, going from $95,500 in 2011 to $95,000 in 2012.
  • The median nonforeclosure home was sold for $175,000 in 2012 compared to $160,500 in 2011, an 9.4 percent increase.
  • The median prices of all sales was $159,450 in 2012 versus $145,000, a 10 percent increase.
  • 85 is the average amount of days a home that was sold in September 2012 spent on the market.

For more information, visit realcomp.com.

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