Michigan Real Estate Has Mixed Sales Outlook – Low Inventories
Total number of sales and dollar volume of sales were down when comparing October 2021 to October 2020. While dollar volumes were down, the average sales price was up as well as the median price.
There is a lower inventory which cause the reduction in the number of sales, and caused the average days on the market to plummet from 100 days in October 2020 to 69 days in October 2021.
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