Is Spring Lake Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spring Lake Township has remained a Buyer's Market.
Housing Prices in Spring Lake Township, MN
How much do homes in Spring Lake Township, MN cost?
Median Sold Price
$753,174
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spring Lake Township was $753,174 in April 2024, up 8% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.3M | - | N/A |
2 Bedrooms | $235K | $200K | -14.9% |
3 Bedrooms | $682.5K | $720K | +5.5% |
4 Bedrooms | $600K | $746.5K | +24.4% |
5+ Bedrooms | $815K | $779.3K | -4.4% |
Summary: Spring Lake Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 24.4%, and 5+ bedroom homes decreased by 4.4%.
Median Sold Price Compared To Nearby Cities
Credit River Township | $685K | $872.4K | +27.4% |
Cedar Lake Township | $625K | $747.9K | +19.7% |
Shakopee | $365.3K | $394.9K | +8.1% |
Spring Lake Township | $697.5K | $753.1K | +8.0% |
Prior Lake | $487.5K | $494.9K | +1.5% |
Housing Supply in Spring Lake Township, MN
How many homes are available in Spring Lake Township, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 17 | +21.4% |
Summary: The Spring Lake Township real estate market had 17 homes for sale in April 2024, a 21.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 1 | 2 | +100.0% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Spring Lake Township housing inventory by bedroom type for April 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 100%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Spring Lake Township in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Spring Lake Township, MN
How long does it take to sell a home in Spring Lake Township, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
2 Days | 130 Days | +6400.0% |
Summary: Homes in Spring Lake Township had an average of 130 days on market in Apr 2024, up by 6400% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Spring Lake Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.