Year to date second quarter 2020 sales statistics show that the average sales price of Lansing area homes has increased from $175,313 at the end of June 2019 to $188,150 in June 2020.  This 7.3% increase represents a dollar value of $12,837 with average selling time reduced to 1.5 months. These figures include all sales through the Greater Lansing Association of Realtors.

Check out our Second Quarter Sales Statistics Link (below) for an update of sales activity by community. (Please note that pending sales, properties under contract that have not yet closed, are not factored into these statistics.)

Second Quarter 2020 Sales Statistics

Due to COVID-19 precautions, the number of sold homes was down 501 units or -15.8%. However, the six year seller’s market continues as we enter the second half of 2020 with only 849 available homes currently for sale in Lansing’s five county market area.  A balanced market, favoring neither buyer or seller, would be at between 2800 to 3200 units.