Is Spencer Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Spencer Township was a Seller's Market.
Housing Prices in Spencer Township, MI
How much do homes in Spencer Township, MI cost?
Median Sold Price
$296,500
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Spencer Township was $296,500 in June 2024, up 5.9% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $150K | +25.0% |
2 Bedrooms | $151.2K | $221.4K | +46.4% |
3 Bedrooms | $290K | $252K | -13.1% |
4 Bedrooms | $365K | $385K | +5.5% |
5+ Bedrooms | $379K | $620K | +63.6% |
Summary: Spencer Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 46.4%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 63.6%.
Median Sold Price Compared To Nearby Cities
Oakfield Township | $320.5K | $360K | +12.3% |
Spencer Township | $279.9K | $296.5K | +5.9% |
Gowen | $290K | $263K | -9.3% |
Housing Supply in Spencer Township, MI
How many homes are available in Spencer Township, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Summary: The Spencer Township real estate market had 16 homes for sale in June 2024, a 14.3% 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 | 3 | 3 | 0.0% |
3 Bedrooms | 7 | 7 | 0.0% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Spencer Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Spencer Township in June 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Spencer Township, MI
How long does it take to sell a home in Spencer Township, MI?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
10 Days | 10 Days | 0.0% |
Summary: Homes in Spencer Township had an average of 10 days on market in Jun 2024, the same as last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 2 homes were sold in Spencer Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.