Blog > Housing Report > Southeast Michigan > Southeast Michigan December 2021

Southeast Michigan December 2021

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5,462

Available Listings
-12% from last month

5,212

New Pendings
+2% from last month

48,705

YTD Closed Sales
+6% from last year

$295K

YTD Avg Sale Price
+14% from last year

$169

YTD Price Per Sq Ft
+15% from last year

Summary

Although available listings dropped 12% compared to last month, there was a slight rise in new pendings. YTD closed sales, average sale price and price per square foot are all up—6%, 14% and 15% respectively. As illustrated by the price per square foot line in the chart above, prices rose rapidly through the spring market as buyer competition and bidding wars rapidly drove prices up. That intense competition dropped off in June, yet prices have only gradually settled and monthly sales have remained relatively high. Expect some continued settling before activity picks back up as inventory is replenished with fresh listings early in 2022.

Monthly Activity

Monthly Activity

ListingsChangeNew PendingsChangeMonths SupplyChange
All5,462-12%5,2122%1.0-14%
$10k - $150k1,9430%1,28011%1.5-10%
$150k - $250k1,170-16%1,6707%0.7-21%
$250k - $500k1,313-21%1,734-5%0.8-17%
$500k+1,036-16%528-5%2.0-12%

YTD Closed Activity

YTD Closed’21 v ’20’21 v ’19$/SF’21 v ’20’21 v ’19
All48,7056%5%$16915%23%
$10k - $150k10,233-18%-35%$886%9%
$150k - $250k14,4743%4%$1529%13%
$250k - $500k18,34716%31%$17412%16%
$500k+5,65162%98%$2247%8%

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