Is Springvale Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Springvale Township has remained a Seller's Market.
Key Takeaway
Springvale Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springvale Township, MI
How much do homes in Springvale Township, MI cost?
Median Sold Price
$414,900
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Springvale Township have sold for 7.8% less than they did a year ago.
Summary: The median home sold price in Springvale Township was $414,900 in May 2024, down 7.8% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $110K | N/A |
| 2 Bedrooms | $355K | $325K | -8.5% |
| 3 Bedrooms | $428K | $330K | -22.9% |
| 4 Bedrooms | $482.5K | $499.9K | +3.6% |
| 5+ Bedrooms | $927.3K | - | N/A |
Summary: Springvale Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.5%, 3 bedroom homes decreased by 22.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Tuscarora Township | $270K | $374.2K | +38.6% |
| Littlefield Township | $265K | $322.5K | +21.7% |
| Springvale Township | $450K | $414.9K | -7.8% |
Housing Supply in Springvale Township, MI
How many homes are available in Springvale Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Summary: The Springvale Township real estate market had 10 homes for sale in May 2024, a 66.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Springvale Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springvale Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Springvale Township in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Springvale Township, MI
How long does it take to sell a home in Springvale Township, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Springvale Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Springvale Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is 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. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.