Is Sparta Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sparta Township is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Sparta Township has remained a Seller's Market.

Key Takeaway

Sparta Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Sparta Township, MI

How much do homes in Sparta Township, MI cost?

Median Sold Price

$300,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$34,500(+13.0%)

Key Takeaway

Homes in Sparta Township have sold for 13% more than they did a year ago.

Summary: The median home sold price in Sparta Township was $300,000 in February 2024, up 13% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $110.4K$120K
+8.7%
2 $225K$230K
+2.2%
3 $264.9K$295K
+11.3%
4 $333.5K$324.3K
-2.8%
5+ $549.9K$360K
-34.5%

Summary: Sparta Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 34.5%.

Median Sold Price Compared To Nearby Cities

Sparta
+21.0%
Sparta Township
+13.0%
Algoma Township
0.0%
Conklin
-21.2%

Housing Supply in Sparta Township, MI

How many homes are available in Sparta Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2227+22.7%

Summary: The Sparta Township real estate market had 27 homes for sale in February 2024, a 22.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 610
+66.7%
3 710
+42.9%
4 45
+25.0%
5+ 52
-60.0%

Summary: The Sparta Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sparta Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Sparta Township in February 2024, down by 16.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Sparta Township, MI

How long does it take to sell a home in Sparta Township, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
22 Days30 Days+40.0%

Summary: Homes in Sparta Township had an average of 30 days on market in Feb 2024, up by 40% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sparta Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 5 homes were sold in Sparta Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Sparta Township, MI

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