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 March 2023
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 in Springfield Charter Township, MI
How much do homes in Springfield Charter Township, MI cost?
Median Sold Price
$369,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Springfield Charter Township have sold for 5.2% less than they did a year ago.
Summary: The median home sold price in Springfield Charter Township was $369,900 in March 2024, down 5.2% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $104K | - | N/A |
| 2 Bedrooms | $202K | $184.9K | -8.4% |
| 3 Bedrooms | $350K | $327.5K | -6.4% |
| 4 Bedrooms | $493.5K | $470K | -4.8% |
| 5+ Bedrooms | $546.7K | $624.5K | +14.2% |
Summary: Springfield Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.4%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Groveland Township | $390K | $426.5K | +9.4% |
| Independence Charter Township | $373K | $382.4K | +2.5% |
| Clarkston | $387.9K | $386K | -0.5% |
| Davisburg | $401.4K | $390K | -2.9% |
| Springfield Charter Township | $390K | $369.9K | -5.2% |
Housing Supply in Springfield Charter Township, MI
How many homes are available in Springfield Charter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 59 | -15.7% |
Summary: The Springfield Charter Township real estate market had 59 homes for sale in March 2024, a 15.7% 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 | 11 | 8 | -27.3% |
| 3 Bedrooms | 35 | 31 | -11.4% |
| 4 Bedrooms | 19 | 13 | -31.6% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Springfield Charter Township 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 27.3%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 31.6%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 11 | -47.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 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. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Springfield Charter Township in March 2024, down by 47.6% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Springfield Charter Township, MI
How long does it take to sell a home in Springfield Charter Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 106 Days | 41 Days | -60.9% |
Summary: Homes in Springfield Charter Township had an average of 41 days on market in Mar 2024, down by 60.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were 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 March 2024, 11 homes were sold in Springfield Charter Township; 73% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.