Is Springfield, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Springfield was a Seller's Market.
Housing Prices in Springfield, MI
How much do homes in Springfield, MI cost?
Median Sold Price
$112,350
$116/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Springfield was $112,350 in March 2024, down 16.2% from last month, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $122K | - | N/A |
3 Bedrooms | $149.9K | $112.3K | -25.1% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Springfield housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 25.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Springfield, MI
How many homes are available in Springfield, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 12 | -25.0% |
Summary: The Springfield real estate market had 12 homes for sale in March 2024, a 25.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 9 | 7 | -22.2% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Springfield 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 decreased by 33.3%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Springfield in March 2024, down by 60.0% 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 Springfield, MI
How long does it take to sell a home in Springfield, MI?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 Days | 9 Days | -84.6% |
Summary: Homes in Springfield had an average of 9 days on market in Mar 2024, down by 84.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Springfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.