Appraisal - Lansing, Illinois 60438

Lansing, Illinois 60438

The village of Lansing is located approximately 25 miles southeast of the Chicago "Loop" in suburban Cook County. The population was 28,322 at the 2000 census. The village has a total area of 6.8 square miles.

Lansing is bordered by Calumet City to the north; Hammond & Munster, Indiana to the east, Lynwood to the south and South Holland - Thornton & Glenwood to the west.

According to data from the Northern Illinois MLS, there were 352 sales of single family homes in 2007. The sales volume was down from 461 sales in 2006. Sales prices increased slightly with the average 2007 sales price at $166,780.00, compared to $165,441.00 in 2006. Marketing times were an average of 128 days on the market, up over the 2006 average of 83 days.

As of January 30, 2008 there are 273 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 9.30 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -23.64%, average sales prices are considered stable with only a +0.80% increase, and the days on the market were up +54.21%. This market is oversupplied and the 273 active listings have already been on the market an average of 174 days.

The condo/townhouse market had 50 sales, down from the 79 properties that sold in 2006. Sales prices saw a increase with the average 2007 sales price at $94,522.00, compared to $92,358.00 in 2006. Marketing times were an average of 128 days on the market, down from the 2006 average of 136 days.

There are 57 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 13.70 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -36.70%, average sales price increased +2.34%, and the days on the market were down -5.88%. The 57 active MLS listings have already been on the market an average of 166 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Lansing, IL. 60438. Our appraisers are state certified and have experience appraising single family homes, townhouses, condominiums as well as small residential income properties. When you need to find an appraiser in Cook County contact Citywide.

To order an appraisal or to speak with an appraiser call 1-800-405-9718

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Village of Lansing Website

Geographic Area: Lansing, Cook County Illinois 60438

Subject	Number	Percent	Subject	Number	Percent

Total housing units	11,966	100.0	OCCUPANTS PER ROOM
UNITS IN STRUCTURE			Occupied housing units	11,644	100.0
1-unit, detached	8,341	69.7	1.00 or less	11,438	98.2
1-unit, attached	102	0.9	1.01 to 1.50	150	1.3
2 units	231	1.9	1.51 or more	56	0.5
3 or 4 units	551	4.6
5 to 9 units	759	6.3	Specified owner-occupied units	7,712	100.0
10 to 19 units	881	7.4	VALUE
20 or more units	1,097	9.2	Less than $50,000	51	0.7
Mobile home	4	0.0	$50,000 to $99,999	2,405	31.2
Boat, RV, van, etc.	0	0.0	$100,000 to $149,999	3,768	48.9
			$150,000 to $199,000	1,105	14.3
YEAR STRUCTURE BUILT			$200,000 to $299,999	314	4.1
1999 to March 2000	49	0.4	$300,000 to $499,999	46	0.6
1995 to 1998	121	1.0	$500,000 to $999,999	9	0.1
1990 to 1994	458	3.8	$1,000,000 or more	14	0.2
1980 to 1989	986	8.2	Median (dollars)	118,800	(X)
1970 to 1979	2,649	22.1
1960 to 1969	2,712	22.7	MORTGAGE STATUS AND SELECTED
1940 to 1959	3,921	32.8	MONTHLY OWNER COSTS
1939 or earlier	1,070	8.9	With a mortgage	5,055	65.5
			Less than $300	6	0.1
ROOMS			$300 to $499	75	1.0
1 room	32	0.3	$500 to $699	494	6.4
2 rooms	206	1.7	$700 to $999	1,539	20.0
3 rooms	698	5.8	$1,000 to $1,499	2,142	27.8
4 rooms	2,092	17.5	$1,500 to $1,999	594	7.7
5 rooms	3,092	25.8	$2,000 or more	205	2.7
6 rooms	2,426	20.3	Median (dollars)	1,078	(X)
7 rooms	1,953	16.3	Not mortgaged	2,657	34.5
8 rooms	1,036	8.7	Median (dollars)	345	(X)
9 or more rooms	431	3.6
Median (rooms)	5.5	(X)	SELECTED MONTHLY OWNER COSTS
			AS A PERCENTAGE OF HOUSEHOLD
Occupied Housing Units	11,644	100.0	INCOME IN 1999
YEAR HOUSEHOLDER MOVED INTO UNIT			Less than 15 percent	2,940	38.1
1999 to March 2000	1,673	14.4	15 to 19 percent	1,503	19.5
1995 to 1998	2,714	23.3	20 to 24 percent	1,113	14.4
1990 to 1994	1,969	16.9	25 to 29 percent	663	8.6
1980 to 1989	2,027	17.4	30 to 34 percent	397	5.1
1970 to 1979	1,687	14.5	35 percent or more	1,039	13.5
1969 or earlier	1,574	13.5	Not computed	57	0.7

VEHICLES AVAILABLE			Specified renter-occupied units	2,833	100.0
None	680	5.8	GROSS RENT
1	4,576	39.3	Less than $200	76	2.7
2	4,720	40.5	$200 to $299	6	0.2
3 or more	1,668	14.3	$300 to $499	202	7.1
			$500 to $749	1,885	66.5
HOUSE HEATING FUEL			$750 to $999	494	17.4
Utility Gas	9,963	85.6	$1,000 to $1,499	82	2.9
Bottled, Tank, or LP gas	116	1.0	$1,500 or more	0	0.0
Electricity	1,469	12.6	No cash rent	88	3.1
Fuel oil, kerosene, etc.	13	0.1	Median (dollars)	657	(X)
Coal or coke	0	0.0
Wood	0	0.0	GROSS RENT AS A PERCENTAGE OF
Solar energy	0	0.0	HOUSEHOLD INCOME IN 1999
Other fuel	48	0.4	Less than 15 percent	508	17.9
No fuel used	35	0.3	15 to 19 percent	570	20.1
			20 to 24 percent	449	15.8
SELECTED CHARACTERISTICS			25 to 29 percent	292	10.3
Lacking complete plumbing facilities	20	0.2	30 to 34 percent	170	6.0
Lacking complete kitchen facilities	13	0.1	35 percent or more	726	25.6
No telephone service	74	0.6	Not computed	118	4.2

-Represent zero or rounds to zero. (X) Not applicable.
Source: U.S. Bureau of the Census, Census 2000.

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