Is Lansing, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lansing is a seller's market

Buyer's
Market

Difference Since November 2021

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.

How much do homes in Lansing, IL cost?

Median Sold Price

$187,833

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$12,547(+7.2%)

Key Takeaway

Homes in Lansing have sold for 7.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $47.4K$45K
-5.2%
2 $101K$125.5K
+24.3%
3 $185.9K$195K
+4.9%
4 $233.5K$265K
+13.5%
5+ $230K$215K
-6.5%

Median Sold Price Compared To Nearby Cities

Lynwood
+20.7%
South Holland
+14.5%
Calumet City
+13.0%
Lansing
+7.2%

How many homes are available in Lansing, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
134148+10.4%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 34
+33.3%
2 2124
+14.3%
3 7381
+11.0%
4 3134
+9.7%
5+ 65
-16.7%

Number of Homes Sold

Oct 2022Nov 2022%
2725-7.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lansing, you may be able to get a good deal. 44% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
31 Days39 Days+25.2%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lansing are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lansing, IL

Lansing, IL has 148 homes on the market. The number of listings in Lansing, IL increased by 10.4% between October 2022 and November 2022. Listings spent 39 days on the market in November 2022, and had a median list price of $187,833 during the same period. Listing prices have changed in this real estate market between October 2022 and November 2022: 1 bedroom properties prices decreased by 5.2%, prices of 2 bedrooms properties increased by 24.3%, 3 bedrooms properties prices increased by 4.9%, 4 bedrooms properties became 13.5% more expensive, prices of 5 bedrooms properties decreased by 6.5%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went up by 33.3%, 2 bedrooms homes became 14.3% more available, number of 3 bedrooms homes increased by 11%, number of 4 bedrooms homes increased by 9.7%, volume of 5 bedrooms homes went down by 16.7%. In November 2022 more than 8 listings in Lansing, IL were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 11 were sold below.

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