LANSING, Mich (WLNS) – There’s some good news for the Greater Lansing real estate market.
A new report shows home sales and values are up.
According to Coldwell Banker Hubbell Briarwood home sales were up 6.8 percent in the fourth quarter last year compared to 2015.
And it’s not just that more homes were sold.
The average sale price also went up about 2 percent.
According to this report that looks at Lansing, East Lansing, Holt, Okemos and other towns across the Capital area as the sales and values went up the number of homes on the market actually dropped by more than 15-percent at the same time.
Experts say these numbers could make a big difference for people currently considering selling their homes.
It’s very important for people to understand that maybe if they weren’t able to sell a few years ago get back with their realtor, doublecheck the numbers now because the market has dramatically changed,” says Kim Dunham, president of the Greater Lansing Association of Realtors.
Dunham says this boost in sales in the housing market is also good news for local builders, painters and other businesses as well.
If listings increase Dunham predicts 2017 could be the market’s best year since before the housing bubble in the early 2000’s.