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Canton Housing Market Report for May: Growing Stronger By the Day

home searchAs you may have noticed from recent blogs we’ve written, the Canton real estate market is definitely on an upward swing these days.

After all, home prices are increasing and more properties are successfully selling on the market.

And according to the latest market data, that trend isn’t expected to go away anytime soon. Continue reading to learn more about the current state of the housing market.

What You Should Know About Canton Real Estate Activity

  • Currently there are 306 homes for sale on the market, including 143 in some stage of the foreclosure process.
  • Between January and April, the average price per square foot for homes was $109, up 3.8 percent from the same period last year.
  • Also during that period, the median sales price for homes was $190,000 based on 130 home sales.
  • Compared to a year ago, the median home sales price remained the same.
  • And the total number of home sales decreased 41.2 percent.
  • Here’s how other communities compared in terms of median home prices:
    • Northville: $337,500
    • Livonia: $141,000
    • South Lyon: $228,000
    • Farmington: $149,000
    • Novi: $230,000
    • Plymouth: $237,000
  • During the week ending on April 29, the average listing price for homes was $275,416, which represents a decrease of 0.4 percent
  • During the previous week, the average listing price was $276,500.
  • Broken down further, the average listing price for a 2-bedroom home was $137,669
  • The average listing price for a 3-bedroom home was $204,487
  • The average listing price for a 4-bedroom home was $381,499
  • Here’s how other communities stacked up when it came to average listing price:
    • Northville: $595,258
    • Livonia: $181,847
    • South Lyon: $422,628
    • Farmington: $163,898
    • Novi: $334,416
    • Plymouth: $366,480

We’re Your Dedicated Canton REALTORS

If you’re interested in entering the market anytime soon as a home buyer or seller, it behooves you to work with an experienced real estate expert like us at The Bittinger Team.

So contact us today to discover how our resources and expertise can assist you in realizing your Canton real estate dreams.

Until next time,

Noel

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