Newly released data from Realtor.com for March shows that potential buyers and sellers in Monroe County saw houses sell for lower than the previous month’s median sales price of $233,000.
The median home sold for $227,450, an analysis of data from Realtor.com shows. That means March, the most recent month for which figures are available, was down 2.4% from February.
Compared to March 2023, the median home sales price was up 7.5% at $227,450 compared to $211,500.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.monroenews.com.
Looking only at single-family homes, the $221,000 median selling price in Monroe County was down 2.9% in March from $227,500 the month prior. Since March 2023, the sales price of single-family homes was up 10.5% from a median of $200,000.
No single-family homes sold for at least $1 million or more during the month.
Condominiums and townhomes decreased by 7.3% in sales price during March to a median of $287,500 from $310,000 in February. Compared to March 2023, the sales price of condominiums and townhomes was down 0.9% from $290,000. No condominiums or townhomes sold for at least $1 million or more during March.
In March, the number of recorded sales in Monroe County dropped by 15.3% since March 2023 from 144 to 122. All residential home sales totaled to $28.9 million.
In Michigan, homes sold at a median of $220,000 during March, up 2.3% from $214,988 in February. There were 8,421 recorded sales across the state during March, down 16.8% from 10,124 recorded sales in March 2023.
The total value of recorded residential home sales in Michigan increased by 5.9% from $2.1 billion in February to $2.2 billion this March.
Out of all residential home sales in Michigan, 1.43% of homes sold for at least $1 million in March, up from 0.9% in March 2023.
Sales prices of single-family homes across Michigan increased by 5% from a median of $200,000 in February to $210,000 in March. Since March 2023, the sales price of single-family homes across the state was up 5% from $200,000.
Across the state, the sales price of condominiums and townhomes dropped 5.4% from a median of $274,750 in February to $260,000 during March. The median sales price of condominiums and townhomes is down 1.9% from the median of $265,000 in March 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The Monroe News: Homes in Monroe County sold for lower prices recently: See how much here
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