As autumn is upon us and kids are settling into their school schedules, we find that the nationwide seasonal peak in the supply of homes for sale and the number of days on the market are both declining. Homes for sale across the country have been selling for higher prices and when you sprinkle in low inventory and a faster sales cycle you have a perfect recipe for a competitive and challenging market for buyers. Although the hurricane hit areas are now in recovery mode there are many markets where the buying and selling activity is percolating, especially metro markets.
Results reveal the number of closed sales for the Lansing area for single-family homes and condos above $300,000 increased in a big way year over year by 38.5% in September 2017 (68) over September 2016 (49). The beginning of fall has been a busy season with strong demand in the Lansing area in this price range even with the limited amount of inventory that has been a challenge for buyers.
The average sale price for existing luxury single-family homes and condos above a $300,000 price range in the Lansing area has been a mixed bag with homes under $700,000 showing increases and homes over $700,000 showing decreases comparing year over year figures, September 2017 to September 2016. The number of days to contract in September 2017 increased in some categories and down in others compared with the same time last year. The Lansing area is not unlike the rest of the nation that is experiencing record low levels of existing homes for sale, nevertheless, demand is high and continues to show strength in many areas.
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!
Luxury 10+ Acre Estates $300,000 or More
Luxury Homes $500,000 to $700,000
Luxury Homes $700,000 or More
The numbers above represent the Lansing Luxury Home Market area.
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