Wayne County October Market Update

Residential Real Estate Update
Presented by: Jordan Bobbitt | Synergy Realty Group
Your Journey Begins with Jordan Bobbitt

As we head into the final stretch of 2025, the Wayne County real estate market continues to demonstrate nuanced shifts that reflect broader economic forces and localized behavioral trends. Year to date data through October provides valuable insight into the market’s underlying fundamentals. Here's a detailed breakdown of what the numbers really mean for buyers, and sellers.

📊 Key Market Highlights (Year-to-Date through October)

📈 Inventory & Activity

• New Listings:
  22,038 homes listed (↑ 2.6% from 21,478 in 2024)
  → Slight increase in seller confidence as more homeowners enter the market.

• Pending Sales:
  13,797 homes under contract (↓ 5.0% from 14,518)
  → Demand is softening slightly, potentially due to interest rates, seasonal slowdown, or affordability constraints.

• Closed Sales:
  13,247 homes sold (↓ 5.4% from 14,010)
  → Fewer transactions are completing, suggesting buyers are more selective and facing financing challenges.

💰 Pricing Trends

• Median Sales Price:
  $202,000 (↑ 7.7% from $187,500)
  → Home values continue to climb, offering sellers strong returns.

• Average Sales Price:
  $250,118 (↑ 7.9% from $231,889)
  → Higher-end sales are still performing well, driving up overall averages.

• Percent of List Price Received:
  98.8% (↓ slightly from 99.2%)
  → Properties are still selling near list price, but with a bit more negotiation room compared to last year.

⏳ Days on Market

• Average Time to Sell:
  32 days (↑ 1 day from 31)
  → Homes are taking slightly longer to sell, but not anything noteworthy.

🏘️ Inventory & Supply

• Homes for Sale in October:
  4,709 active listings (↑ 4.8% from 4,493)
  → More choices are entering the market, helping to ease previous inventory constraints.

• Months Supply of Inventory:
  3.5 months (↑ 9.4% from 3.2)
  → While still technically a seller’s market (under 5 months), the increase gives buyers more leverage and options.

🧠 Insight: What This All Means

The Wayne County housing market is showing signs of moderation, but remains fundamentally strong:

• Sellers still benefit from rising values, fast sales, and tight inventory.

• Buyers are starting to see more options and less competition — making it a less frantic, more strategic environment.

• Prices continue to outpace inflation, reinforcing real estate as a reliable long-term asset.

• The shift from an overheated market to a sustainable, balanced growth phase is not only expected — it's healthy.

💬 Jordan’s Advice:

• Thinking of Selling?
  Now is still an excellent time. You’ll benefit from strong demand, rising values, and less competition as the year winds down.

• Looking to Buy?
  Take advantage of increasing inventory and negotiate smarter. Prices are still climbing, so acting sooner could lock in equity gains.

• Investor?
  With rising rents and strong long-term appreciation, this market continues to be a strong play — especially in desirable Downriver and central Wayne communities.

🔗 Let’s Talk Strategy

Interested in what these numbers mean for your home or investment portfolio? I offer custom CMAs, buying strategies, and local expertise — no algorithm can match my boots-on-the-ground insight in the Downriver and Wayne County market.

📧 jordan@downriversynergy.com
🌐 jordanbobbitt.realtor
📱 734-301-8667 Call or text anytime

Synergy Realty Group
Your Journey Begins with Jordan Bobbitt