Is Sparta, 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, Sparta has remained a Seller's Market.
Housing Prices in Sparta, MI
How much do homes in Sparta, MI cost?
Median Sold Price
$295,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Sparta was $295,000 in March 2024, up 17.3% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99.9K | $120K | +20.1% |
2 Bedrooms | $225K | $230K | +2.2% |
3 Bedrooms | $255.3K | $295K | +15.5% |
4 Bedrooms | $315K | $325.1K | +3.2% |
5+ Bedrooms | $257K | $370K | +44.0% |
Summary: Sparta housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.1%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 44%.
Median Sold Price Compared To Nearby Cities
Sparta | $251.5K | $295K | +17.3% |
Sparta Township | $265.7K | $297.4K | +11.9% |
Housing Supply in Sparta, MI
How many homes are available in Sparta, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 30 | -6.3% |
Summary: The Sparta real estate market had 30 homes for sale in March 2024, a 6.3% decrease 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 | 10 | 10 | 0.0% |
3 Bedrooms | 13 | 13 | 0.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Sparta 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 14 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Sparta in March 2024, up by 133.3% month-over-month. Of the 14 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
82 Days | 19 Days | -76.9% |
Summary: Homes in Sparta had an average of 19 days on market in Mar 2024, down by 76.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Sparta; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.