How hot is the real estate market near Lansing? Home prices fall to $140K

Gladys T. Black
A home for sale on Huntington Road in East Lansing photographed on Tuesday, Dec. 21, 2021.

A home for sale on Huntington Highway in East Lansing photographed on Tuesday, Dec. 21, 2021.

The median gross sales price for a one-household dwelling in Ingham County all through January was $140,000. That is a lower of 2% compared with January 2021, in accordance to a United states Currently Community localized assessment generated with info from Realtor.com.

On a yr-around-calendar year foundation, solitary-family home rates just started slipping. January selling prices are down from $162,000 the prior thirty day period.

The quantity of properties bought fell by 13.1% from a calendar year before. A overall of 291 houses ended up offered countywide during the month of January. Throughout the same time period a year earlier, 335 single-relatives homes were offered.

Eaton County’s median product sales price tag for a one-spouse and children residence was $185,000, up 18.6% from a yr previously. On a calendar year-about-year foundation, price ranges just commenced climbing. Some 137 homes ended up marketed in January, up 19.1% from a 12 months earlier.

Genuine estate revenue can choose months or months to be recorded and collected. This is the most current data designed available by way of Real estate agent.com to the United states Now Network.

Ingham County condominiums and townhomes marketed in January had a median sales rate of $236,000. That figure represents a 28.6% raise calendar year in excess of yr. Some 36 ended up sold, down 14.3% from a yr before.

How very hot is Ingham County’s authentic estate sector in Michigan?

Information on your nearby housing marketplaces is out there by the Usa Today Network, with far more information from Realtor.com.

In Ingham County the top rated 10% of the homes bought had costs of at least $348,500, up 17% from a yr just before.

In January, one particular house sold for at least $1 million, consisting of a person one-spouse and children residence.

In Eaton County the top 10% of the homes offered had prices of at the very least $320,000, up 14.7% from a yr in advance of.

The median home sale cost — the halfway place of all the homes or units offered over a period of time — is used in this report rather of the regular home sale price tag simply because professionals say the median features a far more correct perspective of what is actually taking place in a current market. In discovering the common price tag, all rates of properties bought are included and then divided by the amount of properties sold. This measure can be skewed by a person minimal or superior cost.

The Usa Right now Community is publishing localized variations of this story on its news sites across the nation, generated with details from Real estate agent.com. Localized versions are produced for communities where the data quality and transaction volume meets Realtor.com and Usa Today Community expectations. The tale was written by Sean Lahman.

This write-up initially appeared on Lansing Condition Journal: Ingham County’s regular property offered for a reduced value yr more than calendar year

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