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 May 2021

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.

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

Median Sold Price

$410,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$40,500(+11.0%)

Key Takeaway

Homes in Springfield Charter Township have sold for 11% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $97K$276.5K
+185.1%
2 $179.1K$208.7K
+16.5%
3 $320K$370K
+15.6%
4 $420K$480K
+14.3%
5+ $470K$515K
+9.6%

Median Sold Price Compared To Nearby Cities

Groveland Township
+12.4%
Springfield Charter Township
+11.0%
Clarkston
+10.5%
Independence Charter Township
+8.9%
Davisburg
+6.7%

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

Number of Homes For Sale

Apr 2022May 2022%
3841+7.9%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 88
0.0%
3 1213
+8.3%
4 1515
0.0%
5+ 35
+66.7%

Number of Homes Sold

Apr 2022May 2022%
1214+16.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Charter Township, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
37 Days17 Days-52.7%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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.

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

About Springfield Charter Township, MI

Homes for sale in Springfield Charter Township, MI have reached 41. In May 2022 in Springfield Charter Township, MI there were 7.9% more homes for sale than in April 2022. Listings spent 17 days on the market in May 2022, and had a median list price of $410,000 during the same period. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 185.1%, prices of 2 bedrooms properties increased by 16.5%, 3 bedrooms properties became 15.6% more expensive, prices of 4 bedrooms properties increased by 14.3%, prices of 5 bedrooms properties went up by 9.6%. Volume of homes for sale changed: number of 1 bedroom homes remained the same, number of 2 bedrooms homes remained the same, number of 3 bedrooms homes increased by 8.3%, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes increased by 66.7%. In May 2022, from all listings sold in Springfield Charter Township, MI there were more than 9 sold above asking price, over 5 sold below and more than 0 were sold right at the asked price.

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