Is Livonia, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Livonia is a seller's market

Buyer's
Market

Difference Since April 2021

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.

How much do homes in Livonia, MI cost?

Median Sold Price

$256,050

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$28,092(+12.3%)

Key Takeaway

Homes in Livonia have sold for 12.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $95K$95K
0.0%
2 $168.9K$175K
+3.6%
3 $220K$249.6K
+13.5%
4 $297K$335.4K
+12.9%
5+ $347.5K$400K
+15.1%

Median Sold Price Compared To Nearby Cities

Redford Charter Township
+20.2%
Redford
+20.0%
Farmington
+17.0%
Livonia
+12.3%
Farmington Hills
+7.9%

How many homes are available in Livonia, MI?

Number of Homes For Sale

Mar 2022Apr 2022%
195209+7.2%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 55
0.0%
2 2425
+4.2%
3 125127
+1.6%
4 3542
+20.0%
5+ 610
+66.7%

Number of Homes Sold

Mar 2022Apr 2022%
8088+10.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

69 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Livonia, you could pay more than the asking price. 78.4% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
14 Days9 Days-36.2%

Breakdown of Home Sale Times

84 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Livonia are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Livonia, MI

Livonia, MI has 209 homes on the market. In April 2022 in Livonia, MI there were 7.2% more homes for sale than in March 2022. In April 2022 median list price was $256,050 and the average listing age was 9 days. From March 2022 through April 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties did not move, prices of 2 bedrooms properties increased by 3.6%, 3 bedrooms properties became 13.5% more expensive, the cost of 4 bedrooms properties went up by 12.9%, 5 bedrooms properties became 15.1% more expensive. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, number of 2 bedrooms homes increased by 4.2%, 3 bedrooms homes inventory increased by 1.6%, number of 4 bedrooms homes increased by 20%, number of 5 bedrooms homes increased by 66.7%. In April 2022 more than 69 listings in Livonia, MI were sold above the asking price. During the same period more than 10 listings were sold at asking price, while more than 9 were sold below.

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