Nik Rajkovic / news@whmi.com

Fourteen thousand new property were listed across Southeast Michigan in September, but year-over-year sales were down significantly.

According to Multiple Listing Service Realcomp, the number of closed sales were down 8.2% year-over-year in September, and down 7.1% compared to August.

Pending sales were down 15.8% both year-over-year and month-to-month, while the median sale price across Southeast Michigan edged lower by 1.7% from August.

"Being lower (closed sales) than August is not a big deal, because this is the time it does slow down. But an 8 percent slowdown from last year is something we need to pay attention to," said Karen Kage, CEO of Realcomp.

"Pending sales are down over 15 percent, so that's definitely something we need to pay attention to. I'm going to say that a lot of it has to do with 7.3 to 7.4 percent interest rates."

Livingston County still saw 249 homes sold last month, with overall listings up year-over-year. The median sales price in Livingston County last month was $415,000.

"With the prices the way they are, and with the inventory the way it is, you would look at that and say it's a benefit to both buyers and sellers, but those interest rates, I'm sure, are playing a big part," said Kage.

The median sale price in Washtenaw County in September was $406,000, and just over $383,500 in Oakland County.

Some would-be buyers can find better prices elsewhere, such as Genesee County, where the median sale price of a single-family home was $237,500 last month.

"With the amount of inventory we have, I think their options are pretty good," Kage said of local house hunters. "They should just continue looking and reaching outside, and seeing what they can find."

Kage urges would-be buyers to contact their local realtor, who has all the latest information they're looking for.

Realcomp's September report is attached below.