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Monday, January 22, 2018
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November Single-Family Home Sales Statistical Highlights
Winter Homecoming: Single-Family Home Sales Prices Increase 6.2%

Decreased Inventory Leads to Quicker Sales and Higher Prices




November Monthly Highlights:

The facts of residential real estate have remained consistent in 2017. In year-over-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year.

New tax legislation could have ramifications on housing. The White House believes that the tax reform bill will have a small impact on home prices, lowering them by less than 4 percent, and could conceivably boost homeownership. The National Association of REALTORS® has stated that eliminating the mortgage interest deduction could hurt housing, as the doubled standard deduction would reduce the desire to take out a mortgage and itemize the interest associated with it, thus reducing demand. This is a developing story.

  • All single-family home sales for the month were up by 3.7% Y-O-Y, from 6,611 to 6,857. All MLS sales decreased M-O-M from 7,701.

  • The median sale price for All MLS sales increased by 6.2% Y-O-Y, from $151,400 to $160,850. The All MLS median sale price decreased M-O-M from $168,000.

  • Average Days On-Market (DOM) for All MLS sales decreased by 7 days Y-O-Y, from 47 to 40. The ALL MLS avg. DOM increased by 2 days M-O-M from 38.

  • All MLS on-market listings (inventory) decreased by 27.3% Y-O-Y from 24,602 to 17,880.All MLS on-market listings decreased M-O-M from 19,642.

  • 4.5% of Residential and Condo On-Market listings are flagged as “lender mediated”. These listings include foreclosures and those marked as short sales. This percentage is up 2.5% Y-O-Y based on the recalculated percentage for November, 2016, which is 7.0%.The percentage of lender mediated listings is up by .4% M-O-M (compared to October) from 4.1%.

  • Sales were particularly strong in November in Washtenaw County, showing an increase of 25.2% Y-O-Y from 321 units to 402.

 Last Modified: Tuesday, December 12, 2017

December 2017

December 2017

MLS Data from Greater Lansing Association of REALTORS® (GLAR) Now Accessible through Realcomp MLS

Realcomp II Ltd. announced today its long-awaited implementation of MLS data from the Greater Lansing Association of REALTORS®.

November Single-Family Home Sales Statistical Highlights

November Single-Family Home Sales Statistical Highlights

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Happy Holidays from Realcomp

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Business Email Compromise (BEC)

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