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Genesee County Local Market Update - November 2017

Posted by Jennifer L on Friday, December 22nd, 2017 at 4:11pm.

During the month of November in Genesee County the residential market actually saw a decrease in new listings.  Year over year 2017 was down from 414 new listings in 2016 to 387 new listings in 2017 for a change of -6.5%.  This decrease in new listings for the month of November brought the year to date from 6,643 in 2017 to 6,409 in 2017 which is a change of -3.5%.  

Pending sales however for the month were up 8.6% to 405 pending home sale versus 373 in 2016.  This brought the year to date pending sales to 5,113 for the year which is slightly down from 5,069 during 2016.  Closed home sale saw a nice increase for the month up from 409 in 2016 to 425 in 2017 for a 3.9% increase.  This increase still leave the number of closed home sale down 2.8% for the year at 4,928 versus 5,069 for 2016.  

The median sales price of homes that were sold during November continued to climb at a whopping 14.3% rate falling at $132,000 versus $115,500 in 2016.  Year to date the median sales price now falls up 8.1% to $127,000 from $117,500 in 2016.  The percent of list price received is another number coming in strong at 97.1% only slightly down from 97.3% in 2016.  

One of the hottest topics in real estate for 2017 has been available home inventory which in Genesee county continues to be a struggle falling in at only 1,074 for 2017 which is down 27% over 2016 which was 1,473.  Following that suit is the months of supply of homes for sale now only at 2.4 down 25% over 2016 which landed at 3.2.  

This home market continues to move at a fast pace and have strong competition.  Both home buyers and sellers should make sure they are represented by a vetted real estate agent that knows the market and has the strategy to get results.  The entire team at Jennifer Lasco Real Estate puts their clients first and encourages anyone with question to feel free to reach out via phone, email, or text.  

Jennifer Lasco Real Estate
Real Estate Made Simple
101 N. Adelaide St. 
Fenton, MI  48430
810.433.9556
http://www.jenniferlasco.com


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