The average sales price of Lansing area homes has increased $14,919 during the past twelve months (March 2017 to March 2018). Low inventory continues to dramatically favor sellers while affordable mortgage rates giving buyers a unique purchasing advantage.

Average Lansing Area home prices increase steadily
The average sales price of homes in the Greater Lansing area has risen 10.7% from $139,690 at the end of March 2017 to $154,609 in March 2018. Check out our First Quarter Sales Statistics Link (below) for an update sales activity by community.

First Quarter 2018 Sales Statistics

Low inventory resulted in homes selling quickly during past six months
As of the April 30, the number of available homes for sale is in the Greater Lansing market was only 1436 units. This low volume has been a standard for the past three and a half years. A balanced market, favoring neither buyer or seller, would be at between 3000 to 3400 units.

The inventory Absorption Rate, the average time it takes to sell a home, has dropped from 2.5 months to 1.8 months. Absorption rate varies by community and price range.