Is Sparta, MI 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, Sparta has remained a Seller's Market.
Key Takeaway
Sparta is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sparta, MI
How much do homes in Sparta, MI cost?
Median Sold Price
$295,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sparta have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Sparta was $295,000 in April 2024, up 16.4% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $120K | N/A |
| 2 Bedrooms | $225K | $230K | +2.2% |
| 3 Bedrooms | $259K | $283.5K | +9.5% |
| 4 Bedrooms | $340K | $324.3K | -4.6% |
| 5+ Bedrooms | $225K | $401K | +78.2% |
Summary: Sparta 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 increased by 2.2%, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 78.2%.
Median Sold Price Compared To Nearby Cities
| Sparta | $253.3K | $295K | +16.4% |
| Sparta Township | $265.5K | $295K | +11.1% |
Housing Supply in Sparta, MI
How many homes are available in Sparta, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The Sparta real estate market had 27 homes for sale in April 2024, a 18.2% decrease 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 | 11 | 9 | -18.2% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Sparta 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 decreased by 18.2%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 8 | -55.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sparta, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Sparta in April 2024, down by 55.6% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Sparta, MI
How long does it take to sell a home in Sparta, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 37 Days | +96.7% |
Summary: Homes in Sparta had an average of 37 days on market in Apr 2024, up by 96.7% compared to last year.
Breakdown of Home Sale Times
4 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 Sparta are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Sparta; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
