Is Lansing, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lansing has remained a Seller's Market.
Housing Prices in Lansing, IL
How much do homes in Lansing, IL cost?
Median Sold Price
$185,162
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lansing was $185,162 in March 2024, up 0.6% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $49K | $62K | +26.5% |
2 Bedrooms | $127.4K | $125.3K | -1.6% |
3 Bedrooms | $191.6K | $199.3K | +4.0% |
4 Bedrooms | $264.5K | $248.2K | -6.1% |
5+ Bedrooms | $222.5K | $284.7K | +28.0% |
Summary: Lansing housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.5%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 28%.
Median Sold Price Compared To Nearby Cities
Lynwood | $260K | $299K | +15.0% |
Lansing | $184K | $185.1K | +0.6% |
South Holland | $225K | $226K | 0.4% |
Calumet City | $160K | $150.2K | -6.1% |
Housing Supply in Lansing, IL
How many homes are available in Lansing, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
97 | 99 | +2.1% |
Summary: The Lansing real estate market had 99 homes for sale in March 2024, a 2.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 16 | 19 | +18.8% |
3 Bedrooms | 57 | 54 | -5.3% |
4 Bedrooms | 18 | 22 | +22.2% |
5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The Lansing housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 20 | +17.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Lansing in March 2024, up by 17.6% month-over-month. Of the 20 sold homes, 40% were sold under asking, 25% were sold at asking, and 35% were sold over asking.
Days on Market for Lansing, IL
How long does it take to sell a home in Lansing, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 19 Days | -55.9% |
Summary: Homes in Lansing had an average of 19 days on market in Mar 2024, down by 55.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in Lansing; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.