$164,900
19.77 Acres
Land
Jeffrey M Platko, Listing Office: JH Realty Partners
Is Spencer Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Spencer Township was a Seller's Market.
Key Takeaway
Spencer Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Spencer Township, MI
How much do homes in Spencer Township, MI cost?
Median Sold Price
$312,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$67,500(+27.6%)
Key Takeaway
Homes in Spencer Township have sold for 27.6% more than they did a year ago.
Summary: The median home sold price in Spencer Township was $312,000 in September 2024, up 27.6% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $243K | +62.0% |
| 2 Bedrooms | $191.4K | $180K | -6.0% |
| 3 Bedrooms | $220K | $290K | +31.8% |
| 4 Bedrooms | $362.5K | $377.4K | +4.1% |
| 5+ Bedrooms | $825K | $622.5K | -24.5% |
Summary: Spencer Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 62%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 31.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 24.5%.
Median Sold Price Compared To Nearby Cities
| Spencer Township | $244.5K | $312K | +27.6% |
| Oakfield Township | $310K | $362.5K | +16.9% |
| Gowen | $238.5K | $275K | +15.3% |
Housing Supply in Spencer Township, MI
How many homes are available in Spencer Township, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Spencer Township real estate market had 17 homes for sale in September 2024, a 21.4% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Spencer Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Spencer Township in September 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 17 Days | 30 Days | +72.4% |
Summary: Homes in Spencer Township had an average of 30 days on market in Sep 2024, up by 72.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spencer Township are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 2 homes were sold in Spencer Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
