Wed Jul 15 2020
This week the median list price for Farmington, MI is $349,900 with the market action index hovering around 38. This is an increase over last month's market action index of 36. Inventory has held steady at or around 171.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$349,900|
|Per Square Foot||$142|
|Days on Market||67|
|Slight Seller's Advantage|
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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$534,450||3,251||0.5 - 1 acre||4||3||24||10||1||99|
|$399,000||3,008||0.25 - 0.5 acre||4||3||39||7||4||51|
|$319,900||2,238||0.25 - 0.5 acre||4||2||47||9||4||43|
|$239,900||1,689||0.25 - 0.5 acre||3||2||59||8||8||74|