Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 22% from one year earlier, and down 22% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 210-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 21%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 190-thousand dollars. The number of units sold decreased 25% year-over-year, and decreased 14% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Livonia, MI
Area Information for Livonia, MI
Population:98,750
Median Age:45.54 yr
Median Commute Time:22 mins
Educational Climate*:4
Sales Tax:0%
Population Density:2,766/sq mi
Population Change Since 2000:-1.78%
Closest Airport:Detroit Metropolitan Wayne County
Closest College:Madonna University
Closest Jr. College:Schoolcraft College
Median Household Income:$70,218
Annual Residential Turnover:0%
Median Home Sales Price:$205,000
Closest Major Sports Team:Detroit Tigers
Change Avg. Household Income Since 2000:16.2%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Livonia, MI
Median Age: 45.54Married: 47%Number of Households: 39,508Households with Children: 10,024
Community:
Occupancy Types
3599Vacant
8822Owned
12512Rented
Transportation to Work
43%Drive
47%Public Transportation
8%Walk / Bike / Other
8%Work at Home
National Index Comparisons:
(100 National Average)
Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.