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RSS FeedGreater Lansing Real Estate Market Report & Some |
Jan. 20, 2009
Categorized in: Lansing Michigan Real Estate
Tagged with: buy, buying, coldwell banker, greater lansing real estate, homes, house, market, professional real estate agent, sell, selling
The greater Lansing real estate market finished 2008 with 5186 closed sales units, or $575,181,075.00 in volume. Coldwell Banker Hubbell Briarwood captured 33.82% of that volume.
Other profile highlights include the following:
Current greater Lansing residential listings: 3,449 compared to 4,063 listings last year. (This is good news)
Currently there is 10.9 month’s of market surplus vs. 13.9 month’s last year.
Condominium closed sales price volume was $44,697,168.00 with Coldwell Banker Hubbell Briarwood capturing 47% or $21,146,777 in volume.
The average sale price dropped substantially over last year in Lansing to $103,294.00 compared to $135,961.00 last year. This was due to an increase of bank owned foreclosures selling off at reduced prices to decrease their inventory. The costs of foreclosure often spill over from foreclosed properties to other nearby properties. You can get the complete report here.
This report is broke down by area, average sale price, and current active listings for areas of Lansing, including: Holt, Okemos, Dewitt, Grand Ledge, Haslett, East Lansing, Mason, Dimondale, and all other areas.
On a side note, activity has picked up over the past few weeks, dispite the freezing conditions. If you're thinking of buying or selling in today's market, my goal is to provide you with the latest marketing systems, technology and a high level of customer satisfaction to get you happily moved into your new home or to sell your existing home. Our company, Coldwell Banker Hubbell Briarwood has been in business for 40 years. We are the #1 real estate company in the greater Lansing area. With the solid support of the best Franchise, Coldwell Banker, the best company, Hubbell Briarwood Real Estate, and a Realtor committed to meet your needs, like Mike Bowler Sr. you can “Expect the Best” Mike
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
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1. RE: Greater Lansing Real Estate Market Report & Some
As expected,The Real Estate Group also continues to receive inquiries from landlords seeking guidance on appropriate pricing for their properties in the increasingly difficult housing market. The combination of these factors reinforces our sentiment that the market has turned in favor of the consumer.That said, the concessions that we discussed in last month’s report, appear to have helped to fill some of the vacancies in the market as consumers use these incentives to upgrade, downgrade or generally use them to their advantage. Still, it seems as though concessions alone will not be enough to stabilize the rental market.Going forward, the economic climate of Manhattan will continue to play a key role. The unemployment rate will be the single most influential factor in whether the year ahead will mark the return of the rental market to stability, or whether the downturn will be more prolonged and pronounced as some are predicting.see more in...Toronto Lofts