Market Update For Our Sellers

Karen & Todd send our sellers an update on market conditions every two weeks. Here is an excerpt of that e-mail.

The grass is finally green, the leaves are almost in, and there is finally some positive news in our real estate market. I mentioned in my last update, I expected that April ’07 sales to be up from ’06. Although the official numbers are not out, my research has found that there was an increase in Livingston County home sales: 155 in ’06 and 162 in ’07. While a 5% increase doesn’t sound that impressive, it is the first time since September 2005 that we have seen a positive number!

Although this is good news, it does not mean that values will level off any time soon. Keep in mind that our supply of homes has continued to grow over the last 2 years. Today, there are 3180 homes and condos for sale on the MLS in Livingston County. So, last month only about 5% of the inventory was sold. We need to see an increased number of sales in the months to come and less listings before homes stop depreciating. Still, April ’07 is a step in the right direction.