Is Spring Arbor, 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, Spring Arbor has remained a Seller's Market.
Key Takeaway
Spring Arbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Arbor, MI
How much do homes in Spring Arbor, MI cost?
Median Sold Price
$257,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Spring Arbor have sold for 4% less than they did a year ago.
Summary: The median home sold price in Spring Arbor was $257,000 in March 2024, down 4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $192.7K | $162.5K | -15.7% |
| 3 Bedrooms | $260K | $240K | -7.7% |
| 4 Bedrooms | $347.5K | $355K | +2.2% |
| 5+ Bedrooms | $319K | - | N/A |
Summary: Spring Arbor housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.7%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Spring Arbor | $267.7K | $257K | -4.0% |
| Spring Arbor Township | $251.5K | $240K | -4.6% |
| Sandstone Township | $281K | $225K | -19.9% |
Housing Supply in Spring Arbor, MI
How many homes are available in Spring Arbor, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Summary: The Spring Arbor real estate market had 6 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Spring Arbor 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 remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
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 Spring Arbor, 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 Spring Arbor in March 2024, up by 100.0% 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 Spring Arbor, MI
How long does it take to sell a home in Spring Arbor, MI?
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 Spring Arbor are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Spring Arbor; 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.