Is Spring Lake, 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 Lake has remained a Seller's Market.
Housing Prices in Spring Lake, MI
How much do homes in Spring Lake, MI cost?
Median Sold Price
$400,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Spring Lake was $400,000 in March 2024, up 9.6% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128.5K | $351.9K | +173.9% |
2 Bedrooms | $295K | $262K | -11.2% |
3 Bedrooms | $362.5K | $341.2K | -5.9% |
4 Bedrooms | $393.5K | $520K | +32.1% |
5+ Bedrooms | $652.4K | $567.4K | -13.0% |
Summary: Spring Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 173.9%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes decreased by 13%.
Median Sold Price Compared To Nearby Cities
Ferrysburg | $315K | $374.9K | +19.0% |
Grand Haven | $302.5K | $348.6K | +15.3% |
Spring Lake | $365K | $400K | +9.6% |
Spring Lake Township | $380K | $400K | +5.3% |
Housing Supply in Spring Lake, MI
How many homes are available in Spring Lake, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 88 | +8.6% |
Summary: The Spring Lake real estate market had 88 homes for sale in March 2024, a 8.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 14 | 14 | 0.0% |
3 Bedrooms | 29 | 33 | +13.8% |
4 Bedrooms | 19 | 20 | +5.3% |
5+ Bedrooms | 18 | 19 | +5.6% |
Summary: The Spring Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 31 | +158.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Spring Lake in March 2024, up by 158.3% month-over-month. Of the 31 sold homes, 55% were sold under asking, 13% were sold at asking, and 32% were sold over asking.
Days on Market for Spring Lake, MI
How long does it take to sell a home in Spring Lake, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
77 Days | 60 Days | -22.3% |
Summary: Homes in Spring Lake had an average of 60 days on market in Mar 2024, down by 22.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in Spring Lake; 58% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.