Newly released data from Realtor.com for September shows that potential buyers and sellers in Monroe County saw lower home sale prices than the previous month’s median of $250,000.
The median home sold for $215,000, an analysis of data from Realtor.com shows. That means September, the most recent month for which figures are available, was down 14% from August.
Compared to September 2023, the median home sales price was down 8.5% compared to $235,000.
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Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in the 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.
Here is a breakdown on median sale prices:
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Looking only at single-family homes, the $205,000 median selling price in Monroe County was down 18% in September from $250,000 the month prior. Since September 2023, the sales price of single-family homes was down 12.8% from a median of $235,000.One single family home sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in September 2023.
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Condominiums and townhomes increased by 31.2% in sales price during September to a median of $341,000 from $260,000 in August. Compared to September 2023, the sales price of condominiums and townhomes was up 46.7% from $232,450. One condominium or townhouse sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in September 2023.
About recorded home sales in Monroe County in Michigan
In September, the number of recorded sales in Monroe County rose by 8.2% since September 2023 — from 158 to 171. All residential home sales totaled $42.5 million.
Across Michigan, homes sold at a median of $245,113 during September, down 2.8% from $252,053 in August. There were 10,391 recorded sales across the state during September, down 12% from 11,806 recorded sales in September 2023.
Here’s a breakdown for the full state:
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The total value of recorded residential home sales in Michigan decreased by 10.3% from $3.3 billion in August to $3 billion this September.
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Out of all residential home sales in Michigan, 1.31% of homes sold for at least $1 million in September, down from 1.75% in September 2023.
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Sales prices of single-family homes across Michigan decreased by 1.9% from a median of $240,283 in August to $235,653 in September. Since September 2023, the sales price of single-family homes across the state was up 7.1% from $220,000.
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Across the state, the sales price of condominiums and townhomes dropped 4.8% from a median of $309,750 in August to $295,000 during September. The median sales price of condominiums and townhomes is up 5.8% from the median of $278,812 in September 2023.
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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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