Blog > Housing Report > Southeast Michigan > Southeast Michigan December 2021
Southeast Michigan December 2021
Topics
- Housing Reports
Subscribe
Get the latest Michigan Housing Reports delivered straight to your inbox!
Topics
Available Listings
-12% from last month
New Pendings
+2% from last month
YTD Closed Sales
+6% from last year
YTD Avg Sale Price
+14% from last year
YTD Price Per Sq Ft
+15% from last year
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.
Listings | Change | New Pendings | Change | Months Supply | Change | |
All | 5,462 | -12% | 5,212 | 2% | 1.0 | -14% |
$10k - $150k | 1,943 | 0% | 1,280 | 11% | 1.5 | -10% |
$150k - $250k | 1,170 | -16% | 1,670 | 7% | 0.7 | -21% |
$250k - $500k | 1,313 | -21% | 1,734 | -5% | 0.8 | -17% |
$500k+ | 1,036 | -16% | 528 | -5% | 2.0 | -12% |
YTD Closed | ’21 v ’20 | ’21 v ’19 | $/SF | ’21 v ’20 | ’21 v ’19 | |
All | 48,705 | 6% | 5% | $169 | 15% | 23% |
$10k - $150k | 10,233 | -18% | -35% | $88 | 6% | 9% |
$150k - $250k | 14,474 | 3% | 4% | $152 | 9% | 13% |
$250k - $500k | 18,347 | 16% | 31% | $174 | 12% | 16% |
$500k+ | 5,651 | 62% | 98% | $224 | 7% | 8% |
Michigan Property Taxes in a Nutshell
2 minutes
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
After several years of rapidly rising prices and mild inflation (until the past two years) homebuyers and sellers need to be aware of the potential for a significant jump between [...]
Southeast Michigan 2024 Housing: Trends and Predictions
2 minutes
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
Through the first half of 2024, expect demand to continue to outweigh supply. However, as the year progresses, expect to see inventory gradually rise into a more balanced position as [...]
’23 Market Summary and ’24 Predictions
< 1 minute
Deprecated: preg_split(): Passing null to parameter #2 ($subject) of type string is deprecated in /usr/share/wordpress/blog/reo_blog/wp-includes/formatting.php on line 3506
After a few years of supply shortages, inventory began to return to more normal levels in the second half of 2023. Demand remains strong and buyers continue to wait for [...]