Is Spencer Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spencer Township has remained a Seller's Market.
Housing Prices in Spencer Township, MI
How much do homes in Spencer Township, MI cost?
Median Sold Price
$296,500
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spencer Township was $296,500 in April 2024, up 9.9% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $150K | +25.0% |
2 Bedrooms | $200K | $163K | -18.5% |
3 Bedrooms | $289.9K | $287.5K | -0.8% |
4 Bedrooms | $269.9K | $387.4K | +43.6% |
5+ Bedrooms | $379K | $620K | +63.6% |
Summary: Spencer Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 43.6%, and 5+ bedroom homes increased by 63.6%.
Median Sold Price Compared To Nearby Cities
Montcalm Township | $217.2K | $269K | +23.8% |
Trufant | $239.9K | $278K | +15.9% |
Spencer Township | $269.9K | $296.5K | +9.9% |
Oakfield Township | $314K | $325K | +3.5% |
Gowen | $290K | $250K | -13.8% |
Housing Supply in Spencer Township, MI
How many homes are available in Spencer Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 11 | -26.7% |
Summary: The Spencer Township real estate market had 11 homes for sale in April 2024, a 26.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 6 | 7 | +16.7% |
4 Bedrooms | 5 | 2 | -60.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Spencer Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 2 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Spencer Township in April 2024, down by 66.7% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
119 Days | 41 Days | -65.1% |
Summary: Homes in Spencer Township had an average of 41 days on market in Apr 2024, down by 65.1% 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
Summary: During April 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.