Is Springfield Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield Charter Township is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Springfield Charter Township has remained a Seller's Market.

Key Takeaway

Springfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Springfield Charter Township, MI cost?

Median Sold Price

$375,000

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

-$28,000(-6.9%)

Key Takeaway

Homes in Springfield Charter Township have sold for 6.9% less than they did a year ago.

Summary: The median home sold price in Springfield Charter Township was $375,000 in August 2023, down 6.9% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $284K$104K
-63.4%
2 $206.7K$187.4K
-9.3%
3 $350K$334.9K
-4.3%
4 $475K$470K
-1.1%
5+ $531.7K$601K
+13.0%

Summary: Springfield Charter Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 63.4%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 13%.

Median Sold Price Compared To Nearby Cities

Groveland Township
+10.2%
Independence Charter Township
+4.2%
Davisburg
+2.4%
Clarkston
+2.3%
Springfield Charter Township
-6.9%

Housing Supply

How many homes are available in Springfield Charter Township, MI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
6768+1.5%

Summary: The Springfield Charter Township real estate market had 68 homes for sale in August 2023, a 1.5% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 00
0.0%
2 98
-11.1%
3 2722
-18.5%
4 2733
+22.2%
5+ 45
+25.0%

Summary: The Springfield Charter Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 18.5%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
1917-10.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Charter Township, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Springfield Charter Township in August 2023, down by 10.5% month-over-month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.

Days on Market

How long does it take to sell a home in Springfield Charter Township, MI?

Average Sale Time

Aug 2022Aug 2023CHANGE
5 Days21 Days+321.2%

Summary: Homes in Springfield Charter Township had an average of 21 days on market in Aug 2023, up by 321.2% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Springfield Charter Township are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 17 homes were sold in Springfield Charter Township; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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Nearby Markets

What housing markets are near Springfield Charter Township, MI?