48854 Housing Market Report May 2025•Ingham County, Michigan

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Housing Prices in 48854, MI

How much do homes in 48854, MI cost?

Housing Market Conditions

Is 48854, 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

48854 is a Seller's Market

Difference Since May 2024

Since last year, 48854 has remained a Seller's Market.

Insight

48854 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.
$254,950$159/SqFt
-$10,050
-3.8%

Based on all homes sold in the last 12 months

Insight

Homes in 48854 have sold for 3.8% less than they did a year ago.

Summary: The median home sold price in 48854 was $254,950 in May 2025, down 3.8% from last year, and the median price per square foot was $159.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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
49251
+45.1%
48864
+2.3%
48842
-0.9%
48854
-3.8%
48819
-7.2%

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.
BedsMay 2024May 2025Change YoY
1$87.5K$55K
-37.1%
2$140K$205K
+46.4%
3$256.9K$260K
+1.2%
4$297K$305K
+2.7%
5$390.5K$382.9K
-1.9%

Summary: 48854 housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -37.1%. The home price for 2 bedroom homes increased by +46.4%. The home price for 3 bedroom homes increased by +1.2%. The home price for 4 bedroom homes increased by +2.7%. The home price for 5 bedroom homes decreased by -1.9%.

How does 48854, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

48854, MI

Housing supply in 48854, MI

How many homes are available in 48854, 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
47Last MonthMay 2025
432 months agoApr 2025
+9.3 %
Change MoMApr – May

Summary: The 48854 real estate market had 47 homes for sale in May 2025, a 9.3 % increase compared to Apr 2025.

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
18Last MonthMay 2025
132 months agoApr 2025
+38.5 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
100
0.0%
296
-33.3%
32834
+21.4%
456
+20.0%
511
0.0%

Summary: 48854 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -33.3%. The inventory for 3 bedroom homes increased by +21.4%. The inventory for 4 bedroom homes increased by +20.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 48854, 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 Price10 Homes

At Asking Price3 Homes

Under Asking Price5 Homes

Insight

If you're buying a home in 48854, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in 48854 in May 2025, up by 38.5% month-over-month. Of the 18 sold homes, 28% were sold under asking, 17% were sold at asking, and and 56% were sold over asking.

Days on Market for 48854, MI

How long does it take to sell a home in 48854, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Many homes in 48854 are selling fast, if you're buying plan to act quickly.

Summary: During May 2025, 18 homes were sold in 48854; 6% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% 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
38 DaysThis YearMay 2025
43 Days1 year agoMay 2024
-11.6 %
Change YoYMay 2024 – May 2025

Summary: Homes in 48854 had an average listing age of 38 days in May 2025, down by 11.6% compared to the previous year.

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Newest Listings in 48854, MI

What homes are available in 48854, MI?

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MLS Disclaimers and Copyright

Based on information from Greater Lansing MLS, RealComp II Ltd., Michigan Regional Information Center LLC, and MiRealSource Inc. DL for the period 06/01/2023 - 06/01/2025

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.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/5/2025, 12:40:33 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Last updated on: 6/5/2025, 12:45:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Last updated on: 6/5/2025, 12:40:32 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/5/2025, 12:45:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.