Newly released data from Realtor.com for October shows that potential buyers and sellers in Lenawee County saw higher home sale prices than the previous month’s median of $200,000.
The median home sold for $229,900, an analysis of data from Realtor.com shows. That means October, the most recent month for which figures are available, was up 15% from September.
Compared to October 2023, the median home sales price was up 21% compared to $190,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in the data. The statistics don’t include homes currently listed for sale and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.lenconnect.com.
Here is a breakdown on median sale prices:
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Looking only at single-family homes, the $229,400 median selling price in Lenawee County was up 15.3% in October from $199,000 the month prior. Since October 2023, the sales price of single-family homes was up 24% from a median of $185,000.No single-family homes sold for $1 million or more during the month.
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Condominiums and townhomes is the same sales price during October to a median of $230,000 from $230,000 in September. Compared to October 2023, the sales price of condominiums and townhomes was down 17.9% from $280,000. No condominiums or townhomes sold for $1 million or more during October.
About recorded home sales in Lenawee County in Michigan
In October, the number of recorded sales in Lenawee County rose by 12.1% since October 2023 — from 124 to 139. All residential home sales totaled $34.5 million.
Across Michigan, homes sold at a median of $230,000 during October, down 6.1% from $245,055 in September. There were 12,547 recorded sales across the state during October, up 7.1% from 11,719 recorded sales in October 2023.
Here’s a breakdown for the full state:
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The total value of recorded residential home sales in Michigan increased by 17.6% from $3 billion in September to $3.5 billion this October.
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Out of all residential home sales in Michigan, 1.51% of homes sold for at least $1 million in October, down from 2.81% in October 2023.
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Sales prices of single-family homes across Michigan decreased by 6.5% from a median of $235,331 in September to $220,000 in October. Since October 2023, the sales price of single-family homes across the state was up 4.8% from $210,000.
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Across the state, the sales price of condominiums and townhomes dropped 1.7% from a median of $294,999 in September to $290,000 during October. The median sales price of condominiums and townhomes is up 9% from the median of $266,147 in October 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The Daily Telegram: Homes in Lenawee County sold for higher prices recently: See how much here