Southeast Michigan October 2019
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Summary
13,359
Available Listings
No change from last month
4,554
New Pendings
-15% from last month
37,315
YTD Closed Sales
No change from last year
$238k
YTD Avg Sale Price
+4% from last year
$138
YTD Price Per Sq Ft
+4% from last year
The number of available homes remains even with last month and 5% higher than a year ago. Both September new pendings and closed sales were down 15% from the prior month. Expect sales to generally tail-off through the balance of the year as they normally do. Despite the talk all year about a slowing market, this year’s 37,315 sales have the market even with last year. In addition, YTD average sale price, price per square foot and sold volume are all up by 4%. This year’s sold volume is the highest it has ever been (5% ahead of 2017). Remain focused on currently-available opportunities.
