April Market Comparisons (Residential + Condo) — All MLS

Sales Activity

• Pending Sales decreased by 6.7% from 9,805 to 9,149 YOY. Pending sales increased from 8,521 MOM, an increase of 7.4%.
• Closed Sales decreased 4.5% from 8,670 to 8,281 YOY. Closed sales increased from 7,052 MOM, an increase of 17.4%.

Listings & Inventory

• New Listings increased by 2.9% from 14,231 to 14,638 YOY. New Listings increased from 12,125 MOM, an increase of 20.7%.
• Inventory of Homes for Sale increased by 13.3% from 19,402 to 21,992 YOY. Inventory of Homes for Sale increased from 19,643 MOM, an increase of 12%.
• Month’s Supply of Inventory increased by 13.6% from 2.2 to 2.5 YOY. Month’s Supply of Inventory increased 13.6% from 2.2, MOM.

Pricing

• Median Sale Price increased by 5.3% from $272,500 to $286,950 YOY. Median Sale price increased from $272,000 MOM, an increase of 5.5%.
• Percentage of Last List Price Received decreased slightly by 0.2% from 99.3% to 99.1% YOY. Percentage of Last List Price Received increased by 0.6%, MOM.

Market Pace & Buyer Activity

• Average Days on Market (DOM) increased by 4 days from 39 to 43 YOY. Average Days on Market decreased from 50 days MOM.
• Average Showings per Home decreased from 7.1 to 6.7 YOY. Average Showings increased from 6.6 MOM, a difference of 0.1 showings.
• Listings that were both listed and pended in the same month were at 4,591. This represents 31.4% of the new listings for the month and 50.2% of the pended listings. Listings that were both listed and pended in the same month increased from 3,872 MOM.

“Market momentum continued from March into April in significant ways with closed sales up into the double digits and more pending sales coming down the pipeline,” said Karen Kage, CEO, Realcomp II Ltd. “That progress is supported with many more homes coming to market.”

*high points noted with an asterisk.

Note: These numbers represent real estate market activity in the lower part of Michigan. Be sure to contact a REALTOR® for their expertise about local markets. Find a REALTOR® in your market at www.MoveInMichigan.com.

Realcomp Shareholder Boards & Associations of REALTORS®:

• DABOR, Chastity Townsend, AE, 313-278-2220
• DAR, Sharon Armour, EVP, 313-962-1313
• ETAR, Laura VanHouteghen, 810-982-6889
• GPBR, Bob Taylor, CEO, 313-882-8000
• LUTAR, 810-664-0271
• LCAR, Terri Fratarcangeli, EVP, 810-225-1100
• NOCBOR, Patricia Jacobs, EVP, 248-674-4080

For more than 30 years, Realcomp II Ltd. has supported real estate professionals with accurate data and the tools they rely on to navigate the market. As Michigan’s largest MLS, Realcomp provides market statistics compiled from its MLS database of listing and sales activity. To learn more about Realcomp and access additional market data, visit www.Realcomp.com.