Is Silver Creek Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Silver Creek Township has remained a Seller's Market.
Key Takeaway
Silver Creek Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Creek Township, MI
How much do homes in Silver Creek Township, MI cost?
Median Sold Price
$352,500
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Silver Creek Township have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Silver Creek Township was $352,500 in March 2024, up 13.7% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $225K | N/A |
| 2 Bedrooms | $204K | $198K | -2.9% |
| 3 Bedrooms | $301K | $326K | +8.3% |
| 4 Bedrooms | $553.9K | $624.9K | +12.8% |
| 5+ Bedrooms | $302.9K | $1.0M | +259.0% |
Summary: Silver Creek Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 259%.
Median Sold Price Compared To Nearby Cities
| Dowagiac | $136K | $183K | +34.6% |
| Pokagon Township | $189.6K | $250K | +31.9% |
| Silver Creek Township | $310K | $352.5K | +13.7% |
| Wayne Township | $155.2K | $165K | +6.3% |
Housing Supply in Silver Creek Township, MI
How many homes are available in Silver Creek Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The Silver Creek Township real estate market had 20 homes for sale in March 2024, a 17.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Silver Creek Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 8 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Creek Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Silver Creek Township in March 2024, up by 100.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Silver Creek Township, MI
How long does it take to sell a home in Silver Creek Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 182 Days | 85 Days | -52.9% |
Summary: Homes in Silver Creek Township had an average of 85 days on market in Mar 2024, down by 52.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Silver Creek Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 8 homes were sold in Silver Creek Township; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
