Is Sparta 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, 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
$297,450
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sparta Township have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Sparta Township was $297,450 in March 2024, up 11.9% 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 | $119.4K | $120K | 0.5% |
| 2 Bedrooms | $225K | $230K | +2.2% |
| 3 Bedrooms | $265.5K | $290K | +9.2% |
| 4 Bedrooms | $330K | $324.3K | -1.7% |
| 5+ Bedrooms | $549.9K | $395K | -28.2% |
Summary: Sparta Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 9.2%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 28.2%.
Median Sold Price Compared To Nearby Cities
| Sparta | $251.5K | $295K | +17.3% |
| Sparta Township | $265.7K | $297.4K | +11.9% |
| Tyrone Township | $280K | $287.4K | +2.7% |
| Algoma Township | $399.9K | $400K | 0.0% |
Housing Supply in Sparta Township, MI
How many homes are available in Sparta Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 30 | -6.3% |
Summary: The Sparta Township 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 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 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
Key Takeaway
If you're buying a home in Sparta Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Sparta Township 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 Township, MI
How long does it take to sell a home in Sparta Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 19 Days | -76.9% |
Summary: Homes in Sparta Township 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
Key Takeaway
Many homes in Sparta Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Sparta Township; 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.
