Published October 25, 2026 in Market Update

Primary market sales held steady even with rates above 7%

By Kate Gingery

Real estate, Primary market

The big number right now is 7.32%. Freddie Mac put the 30-year fixed rate there as of October 22, 2026. Rates that high slow a lot of markets. But they did not stop this one.

The Real Estate Data Aggregator counted 319 homes sold across Okemos, East Lansing, and Holt in the three months ending August 31, 2026. That is down just 0.6% from the same months a year ago. Demand is still there.

Realtor.com reported September pending home sales were down 11.3% year over year nationwide. Our market is holding up better than that national picture.

Each ZIP code tells its own story

Okemos (48864): prices up, pace a little slower

The Real Estate Data Aggregator put the median sale price in Okemos at $402,501, up 7.3% from a year ago. That is the highest median of the three ZIP codes. Homes sold count held flat year over year at 77.

Homes are taking a little longer. The median days on market was 39 days, four days longer than a year ago. Not every home sold fast here. Still, sellers got 99.3% of list price on average.

East Lansing (48823): fewer sales, but prices held

East Lansing saw the sharpest drop in sales volume. The Real Estate Data Aggregator counted 150 homes sold, down 16.2% from a year ago. That is worth noting.

Even so, the median sale price came in at $329,000, up 1.2% year over year. Sellers still got 99.2% of list price on average. More homes sold above list price too: 35.3% of sales, up 5.1 points from a year ago.

Holt (48842): the most competitive ZIP right now

Holt is the most active story in this market. The Real Estate Data Aggregator counted 92 homes sold, up 41.5% from a year ago. That is a big jump.

The median sale price dipped a little, down 7.3% to $265,000. But buyers are still competing hard. The Real Estate Data Aggregator shows 62% of Holt homes sold above list price, up 15.8 points from a year ago. The average sale came in at 101.2% of list price.

More than half of Holt homes went under contract within two weeks. The Real Estate Data Aggregator put that share at 57.5%. Months of supply fell to 2.1, the tightest of the three ZIP codes.

What the rate picture means

Freddie Mac averaged the 30-year fixed rate at 7.32% as of October 22, 2026. The 15-year fixed came in at 6.68%. Realtor.com listed the average mortgage rate at 7.40% on October 22, 2026.

Realtor.com noted that mortgage rates climbed above 7% for the first time since January 2025. That is a real headwind for buyers. But our local numbers show deals are still getting done.

Nationally, the National Association of Realtors counted 3.99 million existing homes sold in September 2026. Inventory rose to 1.60 million homes, and existing-home prices were up 1.3% year over year. Our market is moving in a similar direction.