Is Lansing, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lansing has remained a Seller's Market.
Housing Prices in Lansing, MI
How much do homes in Lansing, MI cost?
Median Sold Price
$148,071
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lansing was $148,071 in April 2024, up 5.8% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $59K | $66.5K | +12.7% |
2 Bedrooms | $95K | $107.3K | +13.0% |
3 Bedrooms | $149.7K | $155.7K | +4.0% |
4 Bedrooms | $199.9K | $204.7K | +2.4% |
5+ Bedrooms | $220K | $333K | +51.4% |
Summary: Lansing housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 51.4%.
Median Sold Price Compared To Nearby Cities
Delta Charter Township | $254.5K | $275K | +8.1% |
Delhi Charter Township | $253.2K | $272.2K | +7.5% |
Lansing | $140K | $148K | +5.8% |
East Lansing | $268.9K | $284K | +5.6% |
Lansing Charter Township | $139.9K | $145.9K | +4.3% |
Housing Supply in Lansing, MI
How many homes are available in Lansing, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
516 | 540 | +4.7% |
Summary: The Lansing real estate market had 540 homes for sale in April 2024, a 4.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 12 | +9.1% |
2 Bedrooms | 134 | 142 | +6.0% |
3 Bedrooms | 254 | 257 | +1.2% |
4 Bedrooms | 94 | 104 | +10.6% |
5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The Lansing housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
152 | 159 | +4.6% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
76 Homes Were Sold
Over Asking
Summary: A total of 159 homes were sold or pending in Lansing in April 2024, up by 4.6% month-over-month. Of the 159 sold homes, 38% were sold under asking, 14% were sold at asking, and 48% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 27 Days | +1.6% |
Summary: Homes in Lansing had an average of 27 days on market in Apr 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
115 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During April 2024, 159 homes were sold in Lansing; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.