February 2022 Real Estate Market Update – Livingston County, Michigan
Hey guys, it is Brandon here with Mitten Made Properties. We have your Livingston County, February, 2022, real estate market update. Let’s jump right into this thing. We have a couple things here. We have three years of data preface these videos, a couple things, three years of data, cuz the trend is your friend. We wanna see a pattern here and see what’s happening. Cause one year data will. It just wouldn’t make any sense. You have really have no idea, no context of what’s going on. And then we have the month and arrears in February because the data’s wrapped. We have all the data, it is signed, sealed, and delivered. So now we can give it to you and it is hot off the press. So let’s jump right into this.
Days on market
We have days on market. Anytime you see DOM or ADOM, CDOM basically means days on market. 84 days on market two years ago, 38 last year, then 30 this year. So again, steep drops across the board in days on market. Obviously, meaning there’s last inventory and prices are going up, which we will see going forward here.
Active number of homes in the market
Active listings. This is a one day data set. So one day data sample. So the data ,data was taken. How many listings are on the market at that given time? So 581, two years ago, 241 last year and then 222. Didn’t think we see numbers lower than that, but we are in Livingston, Genesee county, not so much, but Livingston’s still going, still going so deeper and deeper sellers market really is incredible.
Month of inventory
Months of inventories, MOI. This is at the rate homes are selling. How long would it take to sell every last home, no new homes at the market. So if you stopped inventory right now stopped adding new homes to the market, new listings, it would take three and a half months, two years ago, 1.8 months to, you know, basically seven weeks or so six, seven weeks, two years ago or last year.
And then it would take about, you have six weeks, this year. So 1.5, two months, and just save you context. One to three months is a seller’s market. Four to six is a balance market. And then seven plus is a buyer’s market. Meaning there’s tons of inventory and prices have come down. So you can see, we are really entrenched in a steep seller’s market. Like we have been for years, but it just keeps getting steeper. So it’s anybody’s guess as to how this turns out of going forward. And I think only the powers that be the elites, as they call them only they know how they’re planning this to play out. So, take that for what it’s worth.
New homes in the market
New listings, 300, new listings two years ago, 196 last year, then 209 this year. This is the entire month. How many new listings came out the entire month? And again, we have a little bit of uptick, but we’re still way down. We’re still, you know, down by a third from two years ago. So just really remarkable stuff. And by the way, if you wanted to see, you know, any of our macro stuff, we have our insiders updates where we do geopolitical macro stuff. That’s, you know, we’ve been talking about this stuff for five, six years. We’ve been talking about the wars that are going on. We have been preempting our listeners. We’ve been preempting everybody on the stuff that’s coming and what will come. And what’s been happening over the last couple years and we’ve been warning of these things. So it’s, it’s paramount, paramount that you pick an advisor, pick a professional to use in your life, whether it’s a CPA, an attorney, a realtor doesn’t matter, you have to have a team and advisors around you that have been through, you know, thousands of transactions and they, and have experienced investing and doing things on both sides the spectrum or else you can find yourself in a world of hurt.
And that, I can’t tell you how important that is. That is advice. I’ve tried to follow my life with the advisors and the people I surround myself with and the masterminds. But you have to do that yourself or else you’re gonna be, you’re gonna find yourself, look into the government for a handout. I just don’t know any other way to say it. So have to surround yourself, the people who, who have the experience, the pedigree, not just sales people and they’re not just salesmen and women. They are actual negotiators, they’re actual experienced professionals who have the track record to back it up.
Price per square foot
Price per square foot. This is you know, if you multiply this by your square footage of your house, you’re gonna get what the, you know, the, basically the amount of your house in essence, right?
That’s a countywide number though. So just rule of thumb is a countywide number. We wanna see the trend here with $143, two years ago, $158 last year and $199 this year. So, you know, you get $200 square foot multiplied by a 2000 square foot house. That’s $400,000. So that gives you an idea of what your house is worth. But if you want your, you know, if you actually want a true measurement evaluation on your house, you have to have someone on our team, a true professional or an appraiser come over and actually give you evaluation. This is like I said, this is a trend. You wanna see the trend here? That’s the most important part.
Sold listings. This is the buyer stat. These people actually sitting on the closing table, closing on their house 162 last or two years ago, 133 last year, 144 this year. So a little bit of an uptick, but again, this number doesn’t change too too much, unless there’s just absolute anarchy going out in the world. But again, it’s good to see that take up a little bit. So we’ll keep an, an eye on that as we go forward here.
I appreciate you guys, the time and energy you spend with us. It’s the most important asset that we have, which is time. And, we will see you on next one.