Page 9 - Housing Report - January 2025

JAN 2025
SEMI HOUSING REPORT

Farmington/Farmington Hills

Single-Family Homes
MONTHLY
38 Closed Sales

DEC NEW LISTINGS YOY Sales YOY $/SF
-32% from last month Oct +2% Monthly Sales and Avg $/SF Dec -1%
39 120 Nov +25%
Dec -14%
NEW PENDINGS 100 $250
-30% from last month $200
80
54 $150
CLOSED SALES 60
-22% from last month 40 $100
$186 20 $50
PRICE PER SQ FT
-5% from last month 0 $-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$394K Sales '22 Sales '23 Sales '24
AVG SALE PRICE
+3% from last month $/SF '22 $/SF '23 $/SF '24

All Price Ranges

Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 91 56 38 871 977 12%
New Pendings 77 56 39 697 725 4%
Closed Sales 59 69 54 683 686 0%
Price/SF $195 $196 $186 $183 $193 6%
Avg Price $438,732 $383,625 $394,287 $382,902 $393,925 3%
<$250k

Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 10 6 5 153 138 -10%
New Pendings 8 6 3 120 101 -16%
Closed Sales 5 8 5 109 98 -10%
Price/SF $173 $170 $125 $155 $164 6%
$250k-$500k
Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 64 42 26 541 644 19%
New Pendings 58 41 31 472 499 6%
Closed Sales 39 51 40 452 438 -3%
Price/SF $188 $196 $191 $178 $193 8%
>$500k
YTD
Oct '24 Nov '24 Dec '24
'23 '24 (+/-)
Listings Taken 17 8 7 177 195 10%
New Pendings 11 9 5 105 125 19%
Closed Sales 15 10 9 122 150 23%
Price/SF $211 $202 $185 $205 $201 -2%
Data source: Realcomp MLS using Great Lakes Repository Data.

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