How is Wayne County's real estate market? Home prices rose in July

The median sales price for a single-family home in Wayne County during July was $167,000. That's an increase of 21.9% compared with July 2020, according to data from Realtor.com.

The number of houses sold fell by 44% from a year earlier. A total of 65 houses were sold county-wide during the month of July. During the same period a year earlier, 116 single-family homes were sold.

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Condominium and townhomes sold in July had a median sales price of $108,100. That figure represents a 22.8% increase year-over-year. In Wayne County, one were sold, similar to a year earlier.

The top 10% of the properties sold had prices of at least $365,000, up 50.8% from a year before.

In July, no properties sold for $1 million or more.

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The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com.The story was written by Sean Lahman.

This article originally appeared on MPNnow: Wayne County's average home sold for a higher price than last year