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Real Estate Update | June 2021 Main Photo

Real Estate Update | June 2021


Posted: June 17, 2021 by Matthew Hillier

Southeast Michigan Real Estate
To begin this real estate update, we will focus on Southeast Michigan, specifically the counties of Livingston, Macomb, Oakland, St. Clair, Washtenaw, and Wayne. In this region, home prices continue to rise as the year-over-year median sold price increased the most for the fifth consecutive month in Wayne County by 33.05% reaching $155,000. The county that saw the least significant raise in year-over-year median sold price, though still significant, was Livingston, which saw a 16.55% increase reaching $330,300. Year-over-year sold listings have increased in all six counties, with St. Clair experiencing the largest increase of 33.1% (771) and Livingston experiencing the smallest increase of 13.92% (966). Year-over-year new listings have increased in five out of the six counties, with St. Clair again seeing the largest increase of 14.72% (1,013) and Livingston seeing a decrease of just -1.49% (1,324). Furthermore, seller’s are still in the driver seat as homes in five out of the six counties are receiving offers above asking price. St. Clair is the only county to receive offers below asking price (98.5%), though it’s 1.67% higher when compared to the year-over-year average.

Keep in mind that these year-over-year housing market numbers reflect the situation we faced in 2020. However, the combination of low inventory and interest rates will help keep momentum in the market as we head into the summer months.

To download the complete report, CLICK HERE!
Livingston County
Macomb County
Oakland County
St. Clair County
Washtenaw County
Wayne County
West Michigan Real Estate
Shifting gears to the west side of our state, we will now look at the counties of Ionia, Kent, and Montcalm. Year-over-year sold listings have increased in two out of the three counties, with Montcalm experiencing the largest increase of 31.95% (318) and Ionia experiencing a decrease of -7.47% (223). All three counties saw an increase to their year-over-year new listings, with Montcalm again seeing the largest increase of 3.97% (367) and Kent seeing the smallest increase of just .15% (3,372). Year-over-year median sold prices have increased across the board with Montcalm County experiencing the largest increase of 22.23% ($169,900) and Ionia experiencing the smallest increase of 15.79% ($165,000). Something interesting to note in this region is that sellers in all three counties are receiving offers over asking price—an impressive 104.8% in Kent, 101.9% in Ionia, and 100.9% in Montcalm.

To download the complete report,
 CLICK HERE!
Ionia County
Kent County
Montcalm County
Greater Lansing Real Estate
Finally, to conclude this month's real estate update, we will look at Greater Lansing’s tri-county region, which is composed of Clinton, Eaton, and Ingham. Experiencing similar trends seen across Southeast and West Michigan, year-over-year new listings have increased across the board with Eaton County for the second consecutive month experiencing the most significant increase of 15.01% totaling 567. On the other hand, Clinton County again for the second consecutive month saw the least significant increase in year-over-year new listings, which rose by 1.3% totaling 389. Additionally, year-over-year sold listings have also increased across the board with Clinton County leading the way, growing by 32.47% followed by Ingham County, growing by 20.86% and Eaton County not far behind, growing by 19.21%. Homes in Lansing’s tri-county region are moving fast as the year-over-year median days on market continue to inch lower with Ingham County seeing the most significant drop of -67.5% totaling just 13 days on market. Similar to the seller’s trend in West Michigan, homes in these Greater Lansing counties are receiving offers above asking price, with Eaton experiencing the highest offers of 101.6%.

To download the complete report, CLICK HERE!

Clinton County
Eaton County
Ingham County
Neighborhood Reports
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