Newly released data from Realtor.com for May shows potential buyers and sellers in Lenawee County saw lower home sales prices than the previous month’s median of $210,000.
The median home sold for $190,000, an analysis of data from Realtor.com shows. That means May, the most recent month for which figures are available, was down 9.5% from April.
Compared to May 2024, the median home sales price was down 13.8% from $220,500.
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.lenconnect.com.
In May, the number of recorded sales in Lenawee County dropped by 21.4% since May 2024 — from 140 to 110. All residential home sales totaled $25 million.
Across Michigan, homes sold at a median of $260,000 during May, up 8.3% from $240,000 in April. There were 11,277 recorded sales across the state during May, down 6.7% from 12,090 recorded sales in May 2024.
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. Our News Automation and AI Team would like to hear from you. Take this survey and share your thoughts with us.
This article originally appeared on The Daily Telegram: Report: Homes in Lenawee County sold for less in May than April