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McLean County Times

Thursday, November 28, 2024

Home valuation prices decreased in Livingston County during Q3 2023

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Kristy Masching, Clerk & Recorder of Livingston County | https://i0.wp.com/www.livingstoncounty-il.org/

Kristy Masching, Clerk & Recorder of Livingston County | https://i0.wp.com/www.livingstoncounty-il.org/

The median sale price of a home sold in the third quarter of 2023 in Livingston County fell by $4,050, while total sales decreased by 18.1%, according to BlockShopper.com.

From July through September of 2023, 118 homes were sold in the county, with sale prices around $115,950. This is a 3.4% decrease from the $120,000 median sale price during the same period in 2022, when there were 144 homes sold.

Based on the latest available data from 2021, the median sales tax on homes in Livingston County was $2,252, which equates to 1.9% of the median home sale price for the third quarter of 2023.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Livingston County from July 2022 to September 2023.

Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023$120,000$120,000$111,500$111,500$115,000$115,000$112,500$112,500$115,950$115,950

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