$2,730 Closing Credit*
$229,900
1,660 SqFt
3 Beds
•1 Full Bath, 1 Partial
Andrew Whisler, Listing Office: Community Choice Realty Associates, LLC
Is Livonia, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Livonia has remained a Seller's Market.
Key Takeaway
Livonia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Livonia, MI
How much do homes in Livonia, MI cost?
Median Sold Price
$300,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,077(+8.7%)
Key Takeaway
Homes in Livonia have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Livonia was $300,000 in October 2024, up 8.7% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107.5K | $130K | +20.9% |
| 2 Bedrooms | $203K | $201.5K | -0.7% |
| 3 Bedrooms | $268.7K | $290K | +7.9% |
| 4 Bedrooms | $370K | $385K | +4.1% |
| 5+ Bedrooms | $350K | $430K | +22.9% |
Summary: Livonia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Redford | $155K | $170.8K | +10.2% |
| Redford Charter Township | $155K | $170.7K | +10.1% |
| Livonia | $275.9K | $300K | +8.7% |
| Farmington Hills | $350K | $351.1K | 0.3% |
| Farmington | $309K | $300K | -2.9% |
Housing Supply in Livonia, MI
How many homes are available in Livonia, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 308 | 306 | -0.6% |
Summary: The Livonia real estate market had 306 homes for sale in October 2024, a 0.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 8 | -20.0% |
| 2 Bedrooms | 23 | 30 | +30.4% |
| 3 Bedrooms | 199 | 196 | -1.5% |
| 4 Bedrooms | 69 | 67 | -2.9% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Livonia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 30.4%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 108 | 103 | -4.6% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Livonia, you could pay more than the asking price. 42.7% of homes here sold above asking price last month.
Summary: A total of 103 homes were sold or pending in Livonia in October 2024, down by 4.6% month-over-month. Of the 103 sold homes, 42% were sold under asking, 16% were sold at asking, and 43% were sold over asking.
Days on Market for Livonia, MI
How long does it take to sell a home in Livonia, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 18 Days | +27.4% |
Summary: Homes in Livonia had an average of 18 days on market in Oct 2024, up by 27.4% compared to last year.
Breakdown of Home Sale Times
82 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Livonia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 103 homes were sold in Livonia; 80% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.