Feb New Listings
+9% from last month
New Pendings
-22% from last month
Closed Sales
+4% from last month
Price Per Sq. Ft.
-12% from last month
Avg. Sale Price
-14% from last month
Property Type | Dec ’23 | Jan ’23 | Feb ’24 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
All Combined | Sales | 220 | 152 | 158 | -17% | 10% |
Avg Price | $430,113 | $477,728 | $411,427 | 14% | 16% | |
Waterfront | Sales | 21 | 27 | 14 | -13% | 5% |
Avg Price | $934,619 | $1,089,126 | $1,260,421 | 47% | 43% | |
Non-Waterfront | Sales | 166 | 107 | 114 | -14% | 7% |
Avg Price | $385,400 | $343,682 | $329,569 | -2% | 4% | |
Condo | Sales | 33 | 18 | 30 | -31% | 37% |
Avg Price | $333,985 | $357,461 | $326,292 | 14% | 21% |
Price Range | Dec ’23 | Jan ’24 | Feb ’24 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
All Combined | Sales | 220 | 152 | 158 | -17% | 10% |
$/SF | $238 | $265 | $232 | 15% | 15% | |
Avg Price | $430,113 | $477,728 | $411,427 | 14% | 16% | |
<$350k | Sales | 118 | 82 | 96 | -29% | 9% |
$/SF | $181 | $167 | $172 | 9% | 11% | |
$350k-$700k | Sales | 79 | 49 | 47 | 12% | 3% |
$/SF | $229 | $233 | $219 | 7% | 2% | |
>$700k | Sales | 23 | 21 | 15 | -5% | 44% |
$/SF | $358 | $501 | $404 | 17% | 21% |
Michigan Property Taxes in a Nutshell
2 minutes
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
After several years of rapidly rising prices and mild inflation (until the past two years) homebuyers and sellers need to be aware of the potential for a significant jump between [...]
Southeast Michigan 2024 Housing: Trends and Predictions
2 minutes
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
Through the first half of 2024, expect demand to continue to outweigh supply. However, as the year progresses, expect to see inventory gradually rise into a more balanced position as [...]
’23 Market Summary and ’24 Predictions
< 1 minute
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
After a few years of supply shortages, inventory began to return to more normal levels in the second half of 2023. Demand remains strong and buyers continue to wait for [...]