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Your Canton Real Estate Market Report for October 2014

Canton MI Home Selling 6It’s been a pretty good month on the Canton, MI real estate market. After all, even though the total number of home sales is down year-over-year, the average price per square foot on homes has continued to rise – as has the median home sales price.

Thus, home sellers throughout our lovely town should feel encouraged that they have a great chance to get the price they want for their property, so long as they effectively market it to buyers.

Don’t Enter The Market As an Uninformed Canton Home Seller!

Before you decide to put that “For Sale” sign in your yard, it’s important to have a comprehensive understanding of the current state of the local housing market.

Here’s an overview of recent market activity in Canton:

  • Currently there are 417 homes for sale on the market, including 191 in some stage of the foreclosure process.
  • Between June and September, the average price per square foot for homes was $116, up 7.4 percent from the same period last year.
  • Meanwhile, the median sales price for homes was $207,897, based on 189 home sales.
  • When compared to the same period last year, the median home sales price increased 3.9 percent, or $7,897.
  • And the total number of home sales decreased 58.4 percent.
  • Here’s how other communities stacked up when it came to median sales price:
    • Northville $324,500
    • Livonia $155,000
    • South Lyon $260,000
    • Farmington $171,390
    • Novi $$279,900
    • Plymouth 259,500
  • During the week ending on September 24, the average listing price for Canton homes was $266,267, up 0.4 percent from the week before.
  • Specifically, the average listing price for a 2-bedroom home in Canton was $183,995
  • The average listing price for a 3-bedroom home was $204,737
  • And the average listing price for a 4-bedroom home was $340,359
  • Here’s how other communities compared in terms of average listing price:
    • Northville $543,143
    • Livonia $180,135
    • South Lyon $330,543
    • Farmington $160,897
    • Novi $$338,502
    • Plymouth $368,145

Keeping You In the Loop on Canton Home Sales Activity

For more information on the current state of the housing market in Canton – and to learn how it may impact your efforts at selling your home – please don’t hesitate to contact us at The Bittinger Team.

We would love the opportunity to assist you by answering any questions you may have as well as telling you about the various home selling tools we offer to sellers just like you in order to get your home sold quicker and for a great price!

Until next time,

Noel

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