Is Leoni Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Leoni Township has remained a Seller's Market.
Key Takeaway
Leoni Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Leoni Township, MI
How much do homes in Leoni Township, MI cost?
Median Sold Price
$215,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Leoni Township have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Leoni Township was $215,000 in May 2024, up 10.3% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $160K | +18.5% |
| 2 Bedrooms | $160.9K | $160K | -0.6% |
| 3 Bedrooms | $195K | $219K | +12.3% |
| 4 Bedrooms | $280K | $301K | +7.5% |
| 5+ Bedrooms | $237.5K | $331.2K | +39.5% |
Summary: Leoni Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.5%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 39.5%.
Median Sold Price Compared To Nearby Cities
| Jackson | $155K | $175.1K | +13.0% |
| Michigan Center | $175.5K | $197.5K | +12.5% |
| Leoni Township | $195K | $215K | +10.3% |
Housing Supply in Leoni Township, MI
How many homes are available in Leoni Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 69 | +38.0% |
Summary: The Leoni Township real estate market had 69 homes for sale in May 2024, a 38.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 21 | +61.5% |
| 3 Bedrooms | 17 | 26 | +52.9% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Leoni Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 61.5%, 3 bedroom homes increased by 52.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 19 | +72.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leoni Township, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Leoni Township in May 2024, up by 72.7% month-over-month. Of the 19 sold homes, 42% were sold under asking, 5% were sold at asking, and 53% were sold over asking.
Days on Market for Leoni Township, MI
How long does it take to sell a home in Leoni Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 23 Days | +48.2% |
Summary: Homes in Leoni Township had an average of 23 days on market in May 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Leoni Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Leoni Township; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.