The straightforward read on Mid-Michigan’s May housing data is that prices are up and inventory is growing. The more important read is that the market got more competitive, not less, even as supply increased.
The median sales price reached $259,000 in May, a 17.7% increase from May 2025. That rate of appreciation is steeper than anything recorded in the first four months of 2026. Homes sold in a median of 7 days — down from 11 in April — and closed at 100.1% of list price. Sellers are receiving full asking value. Buyers are moving quickly and largely without negotiating room.
More Options Has Not Translated Into Less Competition
New listings climbed to 677 in May, up 15.1% year-over-year, and active inventory rose to 870 homes. Months supply sits at 2.1. The supply is arriving. The problem for buyers is that demand is absorbing it at the same pace. More options have not translated into less competition, and the May data makes that clear.
Affordability Index
One figure worth highlighting is the affordability index at 121. That number means the median Mid-Michigan household earns roughly 21% more than what is required to qualify for the median-priced home. Even with prices up 17.7% year-over-year, this market remains more accessible than most. That is not an accident — it reflects the income stability of the regional economy and is one of the reasons demand here holds even when national housing headlines turn negative.
Bottom Line
For sellers, May confirmed that pricing power has not softened. For buyers, the market requires the same preparation and decisiveness it has all year, with the added urgency that prices are moving faster now than they were in January.
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All data provided by the Greater Lansing MLS and reflects May 2026 transactions. ©2026