By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
Farmington, MI Sun Sep 02 2018 This week the median list price for Farmington, MI is $319,900 with the market action index hovering around 43. This is less than last month's market action index of 48. Inventory has held steady at or around 232. Click here to stay informed with the Farmington market!The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.