48840 Housing Market Report January 2025•Ingham County, Michigan

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Housing Prices in 48840, MI

How much do homes in 48840, MI cost?

Housing Market Conditions

Is 48840, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

48840 is a Seller's Market

Difference Since January 2024

Since last year, 48840 has remained a Seller's Market.

Insight

48840 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$298,700$161/SqFt
-$1,300
-0.4%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 48840 has remained the same since last year.

Summary: The median home sold price in 48840 was $298,700 in January 2025, down 0.4% from last year, and the median price per square foot was $161.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
48808
+30.8%
48823
+9.2%
48864
+8.4%
48895
+5.2%
48840
-0.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1--
N/A
2$149K$183.2K
+23.0%
3$275K$262.5K
-4.5%
4$445K$470K
+5.6%
5$536K$543.7K
+1.4%

Summary: 48840 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +23.0%. The home price for 3 bedroom homes decreased by -4.5%. The home price for 4 bedroom homes increased by +5.6%. The home price for 5 bedroom homes increased by +1.4%.

Housing supply in 48840, MI

How many homes are available in 48840, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
33Last MonthJan 2025
312 months agoDec 2024
+6.5 %
Change MoMDec – Jan

Summary: The 48840 real estate market had 33 homes for sale in Jan 2025, a 6.5 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
8Last MonthJan 2025
82 months agoDec 2024
0.0 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
112
+100.0%
224
+100.0%
3109
-10.0%
41516
+6.7%
532
-33.3%

Summary: 48840 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes decreased by -10.0%. The inventory for 4 bedroom homes increased by +6.7%. The inventory for 5 bedroom homes decreased by -33.3%.

Asking Price vs. Sold Price

How much do homes in 48840, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price1 Home

Under Asking Price3 Homes

Insight

If you're buying a home in 48840, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 48840 in January 2025, the same as the previous month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and and 50% were sold over asking.

Days on Market for 48840, MI

How long does it take to sell a home in 48840, MI?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days2 Homes

Over 90 Days2 Homes

Insight

Many homes in 48840 are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 8 homes were sold in 48840; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
58 DaysThis YearJan 2025
72 Days1 year agoJan 2024
-19.1 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 48840 had an average listing age of 58 days in Jan 2025, down by 19.1% compared to the previous year.

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Newest Listings in 48840, MI

What homes are available in 48840, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Greater Lansing MLS, RealComp II Ltd., and Michigan Regional Information Center LLC for the period 02/01/2023 - 02/01/2025

IDX Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.

Copyright © 2025 Greater Lansing Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 11:50:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/2/2025, 4:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 11:50:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.