$3,918 Closing Credit*
$329,900
1,474 SqFt
3 Beds
•2 Full Baths
Soogee Ahn, Listing Office: Berkshire Hathaway HomeServices Tomie Raines
Is East Lansing, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, East Lansing has remained a Seller's Market.
Key Takeaway
East Lansing is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Lansing, MI
How much do homes in East Lansing, MI cost?
Median Sold Price
$304,666
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$26,133(+9.4%)
Key Takeaway
Homes in East Lansing have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in East Lansing was $304,666 in November 2024, up 9.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110.5K | $102K | -7.7% |
| 2 Bedrooms | $187.8K | $202.4K | +7.8% |
| 3 Bedrooms | $274.1K | $296.2K | +8.1% |
| 4 Bedrooms | $352.5K | $360.5K | +2.3% |
| 5+ Bedrooms | $525K | $532.5K | +1.4% |
Summary: East Lansing housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Okemos | $350K | $383.5K | +9.6% |
| East Lansing | $278.5K | $304.6K | +9.4% |
| Meridian Charter Township | $298K | $326.1K | +9.4% |
| Bath Charter Township | $335K | $365K | +9.0% |
| Lansing Charter Township | $140K | $152.3K | +8.8% |
Housing Supply in East Lansing, MI
How many homes are available in East Lansing, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 130 | 128 | -1.5% |
Summary: The East Lansing real estate market had 128 homes for sale in November 2024, a 1.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 34 | 33 | -2.9% |
| 3 Bedrooms | 44 | 42 | -4.5% |
| 4 Bedrooms | 32 | 30 | -6.3% |
| 5+ Bedrooms | 18 | 19 | +5.6% |
Summary: The East Lansing housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 25 | -19.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Lansing, you may be able to get a good deal. 44% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in East Lansing in November 2024, down by 19.4% month-over-month. Of the 25 sold homes, 44% were sold under asking, 20% were sold at asking, and 36% were sold over asking.
Days on Market for East Lansing, MI
How long does it take to sell a home in East Lansing, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 31 Days | -17.1% |
Summary: Homes in East Lansing had an average of 31 days on market in Nov 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Lansing are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in East Lansing; 80% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% 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.