Is Spring Arbor 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, Spring Arbor Township has remained a Seller's Market.
Key Takeaway
Spring Arbor Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Arbor Township, MI
How much do homes in Spring Arbor Township, MI cost?
Median Sold Price
$240,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Spring Arbor Township have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in Spring Arbor Township was $240,000 in March 2024, down 4.6% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $171.2K | $114.9K | -32.9% |
| 3 Bedrooms | $245K | $238K | -2.9% |
| 4 Bedrooms | $274.9K | $271K | -1.4% |
| 5+ Bedrooms | $329.5K | $383.8K | +16.5% |
Summary: Spring Arbor Township 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 32.9%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Cities
| Summit Township | $190K | $216.5K | +13.9% |
| 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 Township, MI
How many homes are available in Spring Arbor Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Summary: The Spring Arbor Township real estate market had 14 homes for sale in March 2024, a 26.3% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 11 | 7 | -36.4% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Spring Arbor 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 increased by 100%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Arbor Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Spring Arbor Township in March 2024, down by 37.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Spring Arbor Township, MI
How long does it take to sell a home in Spring Arbor Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 9 Days | 65 Days | +578.6% |
Summary: Homes in Spring Arbor Township had an average of 65 days on market in Mar 2024, up by 578.6% compared to last year.
Breakdown of Home Sale Times
2 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 Spring Arbor Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Spring Arbor Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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.