Is Sparta, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Sparta has remained a Seller's Market.
Key Takeaway
Sparta is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sparta, MI
How much do homes in Sparta, MI cost?
Median Sold Price
$292,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Sparta have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Sparta was $292,000 in June 2024, up 0.7% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | - | N/A |
| 2 Bedrooms | $231K | $221K | -4.3% |
| 3 Bedrooms | $279.9K | $281K | 0.4% |
| 4 Bedrooms | $326K | $344.9K | +5.8% |
| 5+ Bedrooms | $420K | $376K | -10.5% |
Summary: Sparta housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Sparta Township | $290K | $293K | +1.0% |
| Sparta | $290K | $292K | +0.7% |
Housing Supply in Sparta, MI
How many homes are available in Sparta, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 36 | 41 | +13.9% |
Summary: The Sparta real estate market had 41 homes for sale in June 2024, a 13.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Sparta housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sparta, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Sparta in June 2024, up by 66.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 50% were sold at asking, and 30% were sold over asking.
Days on Market for Sparta, MI
How long does it take to sell a home in Sparta, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 62 Days | 17 Days | -71.7% |
Summary: Homes in Sparta had an average of 17 days on market in Jun 2024, down by 71.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sparta are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 10 homes were sold in Sparta; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
