Is Springfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284K | $104K | -63.4% |
| 2 Bedrooms | $206.7K | $187.4K | -9.3% |
| 3 Bedrooms | $350K | $334.9K | -4.3% |
| 4 Bedrooms | $475K | $470K | -1.1% |
| 5+ Bedrooms | $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 | $379K | $417.5K | +10.2% |
| Independence Charter Township | $364.5K | $379.9K | +4.2% |
| Davisburg | $376K | $385K | +2.4% |
| Clarkston | $380.2K | $388.9K | +2.3% |
| Springfield Charter Township | $403K | $375K | -6.9% |
Housing Supply
How many homes are available in Springfield Charter Township, MI?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 67 | 68 | +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
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 27 | 22 | -18.5% |
| 4 Bedrooms | 27 | 33 | +22.2% |
| 5+ Bedrooms | 4 | 5 | +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 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 19 | 17 | -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
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 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 5 Days | 21 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
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.
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Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.