Is Lansing Charter Township, 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, Lansing Charter Township has remained a Seller's Market.
Key Takeaway
Lansing Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lansing Charter Township, MI
How much do homes in Lansing Charter Township, MI cost?
Median Sold Price
$149,156
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lansing Charter Township have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Lansing Charter Township was $149,156 in May 2024, up 8.4% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57.5K | $75K | +30.4% |
| 2 Bedrooms | $96K | $109.6K | +14.2% |
| 3 Bedrooms | $147.9K | $156.9K | +6.1% |
| 4 Bedrooms | $190K | $207.1K | +9.0% |
| 5+ Bedrooms | $239.9K | $290.8K | +21.2% |
Summary: Lansing Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 21.2%.
Median Sold Price Compared To Nearby Cities
| Meridian Charter Township | $284.9K | $315.1K | +10.6% |
| East Lansing | $265.4K | $289.9K | +9.2% |
| Lansing Charter Township | $137.5K | $149.1K | +8.4% |
| Lansing | $139.4K | $149.9K | +7.5% |
| DeWitt Charter Township | $335K | $330.4K | -1.4% |
Housing Supply in Lansing Charter Township, MI
How many homes are available in Lansing Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 531 | 584 | +10.0% |
Summary: The Lansing Charter Township real estate market had 584 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 9 | -25.0% |
| 2 Bedrooms | 145 | 167 | +15.2% |
| 3 Bedrooms | 253 | 268 | +5.9% |
| 4 Bedrooms | 100 | 115 | +15.0% |
| 5+ Bedrooms | 21 | 25 | +19.0% |
Summary: The Lansing Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 19%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 173 | 192 | +11.0% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
106 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lansing Charter Township, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.
Summary: A total of 192 homes were sold or pending in Lansing Charter Township in May 2024, up by 11.0% month-over-month. Of the 192 sold homes, 33% were sold under asking, 11% were sold at asking, and 55% were sold over asking.
Days on Market for Lansing Charter Township, MI
How long does it take to sell a home in Lansing Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -25.3% |
Summary: Homes in Lansing Charter Township had an average of 22 days on market in May 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
158 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lansing Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 192 homes were sold in Lansing Charter Township; 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.