Is Ingham County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ingham County has remained a Seller's Market.
Key Takeaway
Ingham County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ingham County, MI
How much do homes in Ingham County, MI cost?
Median Sold Price
$191,191
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ingham County have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Ingham County was $191,191 in May 2024, up 3.6% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86K | $90K | +4.7% |
| 2 Bedrooms | $121.8K | $126.8K | +4.1% |
| 3 Bedrooms | $180.4K | $189.9K | +5.2% |
| 4 Bedrooms | $289.8K | $300.6K | +3.7% |
| 5+ Bedrooms | $400K | $497.5K | +24.4% |
Summary: Ingham County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 24.4%.
Median Sold Price Compared To Nearby Counties
| Eaton County | $210K | $239.8K | +14.2% |
| Jackson County | $179.9K | $202.4K | +12.5% |
| Clinton County | $220.7K | $229.3K | +3.9% |
| Ingham County | $184.6K | $191.1K | +3.6% |
| Shiawassee County | $175K | $180K | +2.9% |
Housing Supply in Ingham County, MI
How many homes are available in Ingham County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 799 | 875 | +9.5% |
Summary: The Ingham County real estate market had 875 homes for sale in May 2024, a 9.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 15 | -11.8% |
| 2 Bedrooms | 169 | 182 | +7.7% |
| 3 Bedrooms | 361 | 396 | +9.7% |
| 4 Bedrooms | 199 | 219 | +10.1% |
| 5+ Bedrooms | 53 | 63 | +18.9% |
Summary: The Ingham County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 18.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 261 | 277 | +6.1% |
Asking Price vs. Sold Price
74 Homes Were Sold
Under Asking
50 Homes Were Sold
At Asking
153 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ingham County, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.
Summary: A total of 277 homes were sold or pending in Ingham County in May 2024, up by 6.1% month-over-month. Of the 277 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for Ingham County, MI
How long does it take to sell a home in Ingham County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 23 Days | -32.9% |
Summary: Homes in Ingham County had an average of 23 days on market in May 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
227 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ingham County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 277 homes were sold in Ingham County; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.