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Detroit Real Estate in March: More Sales, Higher Prices, Fewer Listings

Livingston and Wayne counties jumped the highest in sales and prices

The number of sales and median sale prices are up in metro Detroit. With findings from a Realcomp Ltd. II report, Crain's Detroit Business reported that the number of sales jumped 7.1 percent year-over-year, while median sale prices increased by 5.7 percent. Meanwhile, the number of listings on the market fell by 3.7 percent, from 13,494 in March 2015 to 12,997 in March 2016.

Livingston County climbed the fastest in home and condo sales this past month. In March 2015, the County had 231 sales and a year later had 256 sales, a 10.8 percent increase. Meanwhile, the highest jump in median sale prices was found in Wayne County. In March 2015, Wayne County's median was $88,200, but this past month, it grew by 16.2 percent to $102,500 in March 2016.

For more on each county, be sure to check out Crain's article here.

Metro Detroit home sales, median prices jump in March [Crain's Detroit Business]