Lansing Luxury Homes Market Report
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Kicking off the year, the housing market is experiencing many promising indicators. The talked about real estate slowdown is visible when compared to the rapid acceleration that was seen last January. In many markets nationwide homes are selling slightly quicker, list prices are still going up and inventory is slowly regaining after four straight years of decline. As more properties hit the market, buyer’s frustration will calm with less competition. Eyes are on the availability of entry-level homes as a key ingredient to help balance the market.
Closed sales for the Lansing area for single-family homes and condos above $300,000 increased year over year by 25.0% in January 2019 (55) over January 2018 (44). January’s real estate market continued to show strong demand for luxury single-family homes and condos in the Lansing area.
Luxury single-family homes and condos are selling quicker year over year, for the most part, as evidenced by the lower number of days to contract in January 2019 versus January 2018. The average sale price for existing luxury single-family homes above the $300,000 price range in the Lansing area increased in three pricing categories comparing year over year figures, January 2019 to January 2018. Inventory shortages continue to strain the market and theLansing area is not unlike the rest of the nation that is experiencing record low levels of existing homes for sale, however, the decline has slowed down a bit and demand is high and continues to show strength despite the shortage of homes for sale.
If you are thinking about listing your home for sale this year, be sure to contact Shelly Hall, who can help you by simplifying the local housing market and explaining current market conditions particularly for Luxury Condos, Single Family Homes, Waterfront Properties and Estates over 10 acres that are $300,000 and more. If you are looking to buy or sell a home at or above this price range, be sure to contact Shelly today and ask her how she gets homes SOLD!
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Luxury 10+ Acre Estates $300,000 or More
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Luxury Homes $500,000 to $700,000
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Luxury Homes $700,000 or More
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The numbers above represent the Lansing Luxury Home Market area.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding if it’s the right time to buy?
We are very happy to get you that information.
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