$4,749 Closing Credit*
$399,900
2,578 SqFt
4 Beds
•2 Full Baths, 1 Partial
Judee Taormina, Listing Office: Real Estate One-Northville
Is Livonia, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$301,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,000(+7.5%)
Key Takeaway
Homes in Livonia have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Livonia was $301,000 in November 2024, up 7.5% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107.5K | $129.9K | +20.9% |
| 2 Bedrooms | $203.7K | $205K | +0.6% |
| 3 Bedrooms | $274.9K | $293K | +6.6% |
| 4 Bedrooms | $375.5K | $387K | +3.1% |
| 5+ Bedrooms | $386K | $433K | +12.2% |
Summary: Livonia housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Redford Charter Township | $155K | $175K | +12.9% |
| Redford | $155K | $175K | +12.9% |
| Livonia | $280K | $301K | +7.5% |
| Farmington Hills | $350K | $350.4K | 0.1% |
| Farmington | $326.5K | $319K | -2.3% |
Housing Supply in Livonia, MI
How many homes are available in Livonia, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 309 | 267 | -13.6% |
Summary: The Livonia real estate market had 267 homes for sale in November 2024, a 13.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 31 | 29 | -6.5% |
| 3 Bedrooms | 200 | 165 | -17.5% |
| 4 Bedrooms | 63 | 58 | -7.9% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Livonia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 17.5%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 120 | 97 | -19.2% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Livonia, you may be able to get a good deal. 44.3% of homes here sold below asking price last month.
Summary: A total of 97 homes were sold or pending in Livonia in November 2024, down by 19.2% month-over-month. Of the 97 sold homes, 44% were sold under asking, 14% were sold at asking, and 41% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 23 Days | +81.0% |
Summary: Homes in Livonia had an average of 23 days on market in Nov 2024, up by 81% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
6 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 November 2024, 97 homes were sold in Livonia; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% 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.