Lansing Real Estate Sales Numbers Inch Up in October

Year on Year average sales prices inched up in October 2010 from $105,615 in 2009 to $108,055 in 2010. This is an increase of 2.26% year on year. The number of deals that actually closed fell from 544 in Oct 2009 to 357 in Oct 2010. This is expected since October 2009 was the heyday of the original tax credit and buyers were scrambling to get closed before the original expiration date of Nov 30, 2009. This means that with the exception of August, our average sales prices have been in positive territory all year-long. For a full list of stats click here. For extra fun an excitement, I decided to check on our total supply of housing as well. With a total of 4262 properties listed and 357 closed deals in the last month, this means we have almost a 12 month supply of inventory. Experts will say that a balanced market has about a 6 month supply. This means that our supply is still too high. As the economy begins to shift and with interest rates at startling levels, it continues to be an awesome time to buy.

Lansing Real Estate: September Sales Numbers

Yeah!!! Sales numbers are back up after taking a breath-holding slide in August. The average sales price is up (albeit only slightly) over 2009 numbers, meaning the average sales price has gone up 8 of 9 months in 2010. Couple this with recent news that Lansing was 7th in the nation for job creation and this realtor is happy. Here are the full sales stats for all who are interested, but in brief the average sales price is up to $107,960 from $104,040 in 2009. We still have a lot of foreclosures to crank through the system but these are encouraging numbers. In fact, the graph is starting to look like it has a bottom, doesn’t it?

Lansing Real Estate Sales Stats: August 2010

Lansing Real Estate came to a screeching halt in August. The numbers for August 2010 are everything that NPR already warned you they would be. Sales numbers are down as are prices (after 7 months of gains).

The number of closed transactions fell from 574 in 2009 to 374 in 2010 while the average sales price fell from $114,244 to $108,901. In my opinion (and for those of you who are new to the blog…I am an expert in my opinion) much of the decline is due to the fact that many of the summer buyers were pulled foward into the Spring as they tried to cash in on an $8000 first-time home buyer tax credit offered by the federal government. On the plus side, foreclosures were down 5% over last August for the State of Michigan according to NPR. Combine these numbers with 4.25% mortgage interest rates and it is looking like a grand time to buy a house in Lansing, Michigan!