Is Lansing, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$195,700
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Lansing was $195,700 in June 2024, up 8.7% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $49K | $70K | +42.9% |
2 Bedrooms | $127K | $125.3K | -1.3% |
3 Bedrooms | $189.9K | $210K | +10.6% |
4 Bedrooms | $250K | $249.9K | 0% |
5+ Bedrooms | $237.5K | $285.5K | +20.2% |
Summary: Lansing housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.9%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 10.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 20.2%.
Median Sold Price Compared To Nearby Cities
Lynwood | $266.5K | $292.5K | +9.8% |
Lansing | $180K | $195.7K | +8.7% |
South Holland | $220K | $228.7K | +4.0% |
Calumet City | $155K | $159.5K | +2.9% |
Housing Supply in Lansing, IL
How many homes are available in Lansing, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
107 | 129 | +20.6% |
Summary: The Lansing real estate market had 129 homes for sale in June 2024, a 20.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 24 | 34 | +41.7% |
3 Bedrooms | 54 | 58 | +7.4% |
4 Bedrooms | 22 | 27 | +22.7% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Lansing housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
23 | 23 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Lansing in June 2024, the same as the previous month. Of the 23 sold homes, 43% were sold under asking, 17% were sold at asking, and 39% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
36 Days | 23 Days | -35.2% |
Summary: Homes in Lansing had an average of 23 days on market in Jun 2024, down by 35.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 23 homes were sold in Lansing; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.