Is Sumpter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Sumpter Township was a Neutral Market.
Key Takeaway
Sumpter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sumpter Township, MI
How much do homes in Sumpter Township, MI cost?
Median Sold Price
$275,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sumpter Township have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Sumpter Township was $275,000 in March 2024, down 1.8% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $190K | $179.5K | -5.5% |
| 3 Bedrooms | $255K | $256.5K | +0.6% |
| 4 Bedrooms | $336.2K | $310K | -7.8% |
| 5+ Bedrooms | $377.5K | $427K | +13.1% |
Summary: Sumpter 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 5.5%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
| Willis | $275.5K | $301.5K | +9.4% |
| Huron Charter Township | $304.3K | $330K | +8.4% |
| Van Buren Charter Township | $291K | $299.9K | +3.0% |
| Sumpter Township | $280K | $275K | -1.8% |
Housing Supply in Sumpter Township, MI
How many homes are available in Sumpter Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 30 | +42.9% |
Summary: The Sumpter Township real estate market had 30 homes for sale in March 2024, a 42.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 12 | 18 | +50.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Sumpter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sumpter Township, expect to pay close to the asking price. 83.3% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Sumpter Township in March 2024, up by 20.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 83% were sold at asking, and 0% were sold over asking.
Days on Market for Sumpter Township, MI
How long does it take to sell a home in Sumpter Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 108 Days | 33 Days | -69.3% |
Summary: Homes in Sumpter Township had an average of 33 days on market in Mar 2024, down by 69.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sumpter Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Sumpter Township; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.