$1,424 Closing Credit*
$119,900
1,000 SqFt
2 Beds
•1 Full Bath
Tyler Townsend, Listing Office: Five Star Real Estate - Lansing
Is Lansing, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lansing has remained a Seller's Market.
Key Takeaway
Lansing is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lansing, MI
How much do homes in Lansing, MI cost?
Median Sold Price
$150,550
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,434(+5.2%)
Key Takeaway
Homes in Lansing have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Lansing was $150,550 in October 2024, up 5.2% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $58.5K | $83K | +41.9% |
| 2 Bedrooms | $104.1K | $110K | +5.6% |
| 3 Bedrooms | $150.9K | $160.7K | +6.5% |
| 4 Bedrooms | $203.8K | $214.9K | +5.5% |
| 5+ Bedrooms | $315K | $293.9K | -6.7% |
Summary: Lansing housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.9%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Cities
| East Lansing | $275K | $301K | +9.5% |
| Delta Charter Township | $260K | $282.5K | +8.7% |
| Lansing Charter Township | $140.8K | $150K | +6.5% |
| Lansing | $143.1K | $150.5K | +5.2% |
| Delhi Charter Township | $264.9K | $275K | +3.8% |
Housing Supply in Lansing, MI
How many homes are available in Lansing, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 593 | 628 | +5.9% |
Summary: The Lansing real estate market had 628 homes for sale in October 2024, a 5.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 13 | +85.7% |
| 2 Bedrooms | 157 | 167 | +6.4% |
| 3 Bedrooms | 292 | 309 | +5.8% |
| 4 Bedrooms | 120 | 117 | -2.5% |
| 5+ Bedrooms | 17 | 22 | +29.4% |
Summary: The Lansing housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 85.7%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 163 | 138 | -15.3% |
Asking Price vs. Sold Price
59 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lansing, you may be able to get a good deal. 42.8% of homes here sold below asking price last month.
Summary: A total of 138 homes were sold or pending in Lansing in October 2024, down by 15.3% month-over-month. Of the 138 sold homes, 43% were sold under asking, 18% were sold at asking, and 39% were sold over asking.
Days on Market for Lansing, MI
How long does it take to sell a home in Lansing, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 25 Days | +54.2% |
Summary: Homes in Lansing had an average of 25 days on market in Oct 2024, up by 54.2% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
38 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lansing are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 138 homes were sold in Lansing; 67% of homes were sold within 30 days, 28% 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.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.