$1,900 Closing Credit*
$160,000
1,040 SqFt
4 Beds
•2 Full Baths
Gary R. Newton, Listing Office: RE/MAX Real Estate Professionals
Is 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, 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
$153,784
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,216(+8.6%)
Key Takeaway
Homes in Lansing have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Lansing was $153,784 in November 2024, up 8.6% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55.5K | $85K | +53.2% |
| 2 Bedrooms | $104.3K | $112.2K | +7.5% |
| 3 Bedrooms | $150K | $163.7K | +9.1% |
| 4 Bedrooms | $205.9K | $211.4K | +2.7% |
| 5+ Bedrooms | $315K | $293.9K | -6.7% |
Summary: Lansing housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.2%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Cities
| East Lansing | $278.5K | $304.6K | +9.4% |
| Lansing Charter Township | $140K | $152.3K | +8.8% |
| Lansing | $141.5K | $153.7K | +8.6% |
| Delta Charter Township | $260.7K | $282.9K | +8.5% |
| Delhi Charter Township | $263.3K | $275K | +4.4% |
Housing Supply in Lansing, MI
How many homes are available in Lansing, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 611 | 610 | -0.2% |
Summary: The Lansing real estate market had 610 homes for sale in November 2024, a 0.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 15 | +15.4% |
| 2 Bedrooms | 160 | 148 | -7.5% |
| 3 Bedrooms | 302 | 323 | +7.0% |
| 4 Bedrooms | 113 | 103 | -8.8% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Lansing housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 154 | 129 | -16.2% |
Asking Price vs. Sold Price
54 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
49 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lansing, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.
Summary: A total of 129 homes were sold or pending in Lansing in November 2024, down by 16.2% month-over-month. Of the 129 sold homes, 42% were sold under asking, 20% were sold at asking, and 38% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 25 Days | +6.0% |
Summary: Homes in Lansing had an average of 25 days on market in Nov 2024, up by 6% compared to last year.
Breakdown of Home Sale Times
89 Homes Were Sold
Under 30 Days
38 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 129 homes were sold in Lansing; 69% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 2% 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: 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.