Wed Sep 22 2021
This week the median list price for Farmington, MI is $339,900 with the market action index hovering around 75. This is less than last month's market action index of 79. Inventory has decreased to 91.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$339,900|
|Median Price of New Listings||$314,900|
|Per Square Foot||$174|
|Average Days on Market||41|
|Median Days on Market||21|
|Strong Seller's Market|
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$678,000||3,128||0.5 - 1 acre||4||5||26||4||4||42|
|$377,500||2,364||0.25 - 0.5 acre||4||3||53||8||9||14|
|$300,000||1,606||0.25 - 0.5 acre||3||2||56||6||5||21|
|$199,900||1,213||0.25 - 0.5 acre||3||1||71||9||8||21|