Is Livonia, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$290,031
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Livonia have sold for 9% more than they did a year ago.
Summary: The median home sold price in Livonia was $290,031 in June 2024, up 9% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $114K | +14.0% |
| 2 Bedrooms | $180K | $200.7K | +11.5% |
| 3 Bedrooms | $260.3K | $283.3K | +8.8% |
| 4 Bedrooms | $348K | $375K | +7.8% |
| 5+ Bedrooms | $392K | $416.5K | +6.3% |
Summary: Livonia housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Livonia | $266K | $290K | +9.0% |
| Redford Charter Township | $155K | $165.8K | +7.0% |
| Redford | $155K | $165.8K | +7.0% |
| Farmington | $284K | $300K | +5.6% |
| Farmington Hills | $342.3K | $345K | +0.8% |
Housing Supply in Livonia, MI
How many homes are available in Livonia, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 272 | 284 | +4.4% |
Summary: The Livonia real estate market had 284 homes for sale in June 2024, a 4.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 25 | 33 | +32.0% |
| 3 Bedrooms | 185 | 176 | -4.9% |
| 4 Bedrooms | 54 | 63 | +16.7% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Livonia housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 32%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 110 | 98 | -10.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
64 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Livonia, you could pay more than the asking price. 65.3% of homes here sold above asking price last month.
Summary: A total of 98 homes were sold or pending in Livonia in June 2024, down by 10.9% month-over-month. Of the 98 sold homes, 21% were sold under asking, 13% were sold at asking, and 65% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 12 Days | 11 Days | -3.4% |
Summary: Homes in Livonia had an average of 11 days on market in Jun 2024, down by 3.4% compared to last year.
Breakdown of Home Sale Times
90 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Livonia are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 98 homes were sold in Livonia; 92% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.