Is the Timing Right to Buy or Sell? Market Update

Farmington, MI

Single-Family Homes

Tom Gilliam | tom@homes2moveyou.com



Farmington, MI

Sat Sep 21 2019
This week the median list price for Farmington, MI is $329,900 with the market action index hovering around 30. This is an increase over last month's market action index of 29. Inventory has held steady at or around 298. Click here to stay informed with the Farmington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

Farmington, MI

Sat Sep 21 2019
This week the median list price for Farmington, MI is $329,900 with the market action index hovering around 30. This is an increase over last month's market action index of 29. Inventory has held steady at or around 298. Click here to stay informed with the Farmington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

Real-Time Market Profile

Never miss important changes in the Farmington market.
Median List Price $329,900
Per Square Foot $141
Days on Market 116
Price Decreased 33%
Price Increased 16%
Relisted 21%
Inventory 298
Median House Rent $1,882
Most Expensive $2,399,969
Least Expensive $70,000
Market Action Index
Slight Seller's Advantage
30

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$500,950 3,357 0.5 - 1 acre 4 3 28 5 1 148
$359,950 2,716 0.25 - 0.5 acre 4 2 38 7 4 105
$299,000 2,128 0.25 - 0.5 acre 4 2 52 6 6 117
$192,500 1,275 0.25 - 0.5 acre 3 1 63 10 6 95