Is Lansing, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$188,487
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lansing was $188,487 in April 2024, up 4.6% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $47K | $62K | +31.9% |
2 Bedrooms | $126K | $126K | 0.0% |
3 Bedrooms | $190K | $205K | +7.9% |
4 Bedrooms | $264.9K | $249.5K | -5.8% |
5+ Bedrooms | $237.5K | $285.1K | +20.0% |
Summary: Lansing housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.9%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Cities
Lynwood | $263.5K | $295K | +12.0% |
Lansing | $180.2K | $188.4K | +4.6% |
South Holland | $224.9K | $227.8K | +1.3% |
Calumet City | $157K | $155K | -1.3% |
Housing Supply in Lansing, IL
How many homes are available in Lansing, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 | 104 | +9.5% |
Summary: The Lansing real estate market had 104 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 19 | 20 | +5.3% |
3 Bedrooms | 52 | 53 | +1.9% |
4 Bedrooms | 20 | 27 | +35.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lansing housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 35%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 28 | +16.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Lansing in April 2024, up by 16.7% month-over-month. Of the 28 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 48 Days | +15.5% |
Summary: Homes in Lansing had an average of 48 days on market in Apr 2024, up by 15.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Lansing; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.