Lansing Luxury Homes Market Report
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The promise of growth that spring brings with it was evidenced in the nations median listing price setting a record in April 2019. As more homes are being listed and price cuts increased, demand cooled as we moved forward into spring. Inventory continues to increase nationwide, howbeit, the decline in the number of lower priced homes also continues making it difficult for buyers looking for more affordable options.
Closed sales for the Lansing area for single-family homes and condos above $300,000 decreased slightly year over year by 5.6% in April 2019 (65) over April 2018 (69). Nevertheless, April’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 quickly year over year with the number of days to contract in April 2019 versus April 2018 increasing in all categories. The average sale price for existing luxury single-family homes above the $300,000 price range in the Lansing area decreased in all pricing categories, except for Waterfront homes over $300,000, comparing year over year figures, April 2019 to April 2018. Inventory shortages continue to strain the market and the Lansing 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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STOP!
The numbers above represent the Lansing Luxury Home.
Would you like to know what is happening in your neighborhood?
Are you curious what your home is worth today?
Do you need help deciding if NOW is the right time to buy or sell?
It would be my pleasure to answer these questions and provide you that information.
Just click REPLY and let me know.
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