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.
July Lansing Real Estate Statistics
Well, here they are. The most anticipated numbers all year. Our July numbers are out. Why are these numbers so important? Because the Federal Home Buyer Tax Credit was set to expire on June 30th, so these numbers are truly the first month of numbers after the tax credit expired. As expected, the numbers of closed sales took a HUGE beating this month, dropping from 589 closed sales in July of 2009 to just 384 in July of 2010. This was expected since it is generally agreed that the tax credit pulled buyers forward. This just means that buyers who were thinking about buying a home this summer were more inclined to buy a home this spring instead in order to qualify for the tax credit. The number that got me excited was the average sales price. Despite the credit’s expiration the average sales price still went up a whopping 4.6%! (Ok, maybe not whopping, but still headed in the right direction) In July 2009 the average sales price was $109,814, which rose to $114,996 in July of 2010. Click here for full Lansing real estate statistics.
Lansing Real Estate Sales Statistics: March and April
I realize that I have been a bit behind in posting the most recent statistics for Lansing Real Estate Sales. We do not yet have May’s numbers out, but here are the latest and greatest for March and April. Prices continued to show year on year gains and the numbers of sales rose sharply for March 2010 over March 2009, while in April the number of actual sales was flat while the average sales price was again up. Of course these numbers still show the influence of the first time home buyer tax credit, but it is nice to have some positive numbers. Lansing real estate agents continue to be positive that these great numbers will continue into May and June as many of the contracts that were written for the first time home buyer tax credit will close by June 30th.
I have attached links below to a full set of stats.
December Stats
Well the stats are in for December’s Lansing real estate numbers and….it looks like November was a fluke. As you may recall, the average sales price inched up in November for the first time since prices began their downward spiral in 2006. November was also when the first time home buyer tax credit was originally set to expire, which could account for some of the upward pressure from that month. I would not be suprised to see the same thing happen in April and folks rush to get in before the new deadline. December’s numbers do not continue November’s upwards numbers as the average sales price fell year on year from $104,264 to $98,923 from 2008 to 2009. Also to continue a trend, the number of sales was way up yet again from 388 in 2008 to 422 in 2009.
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