Blog > Housing Report > Southeast Michigan > Southeast Michigan November 2020

Southeast Michigan November 2020


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Available Listings
-5% from last month


New Pendings
-3% from last month


YTD Closed Sales
-4% from last year


YTD Avg Sale Price
+9% from last year


YTD Price Per Sq Ft
+6% from last year


November active listings are down 51% from 2019 and will remain low heading into 2021. Low inventory continues to be a leading driver in rising values, year-to-date average sale price is up 9% over last year. Competition among buyers looks to remain strong with new pendings still ahead of last year by 14% (slight seasonal drop of 3% month-over-month). While all price ranges remain competitive, none more so than homes priced between $150k-$250k with months supply of inventory only 0.6 months. First time home buyers may need to be aggressive to find a home before the end of 2020.

Monthly Activity

Monthly Activity

ListingsChangeNew PendingsChangeMonths SupplyChange
$10k - $150k1,723-1%1,454-2%1.20%
$150k - $250k1,063-7%1,670-3%0.6-4%
$250k - $500k2,024-3%1,804-3%1.10%

YTD Closed Activity

YTD ClosedChangeYTD $/SFChange
$10k - $150k10,958-22%$832%
$150k - $250k12,233-3%$1404%
$250k - $500k13,8479%$1564%

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