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.
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
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
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
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.