Is Springfield Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Springfield Township was a Neutral Market.
Key Takeaway
Springfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springfield Township, MI
How much do homes in Springfield Township, MI cost?
Median Sold Price
$165,000
$152/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Springfield Township have sold for 38.7% more than they did a month ago.
Summary: The median home sold price in Springfield Township was $165,000 in April 2024, up 38.7% from last month, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $122K | N/A |
| 2 Bedrooms | - | $165K | N/A |
| 3 Bedrooms | $119K | $165K | +38.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Springfield Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 38.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Fife Lake | $216.2K | $400K | +85.0% |
| Boardman Township | $322.5K | $450K | +39.5% |
| Springfield Township | $119K | $165K | +38.7% |
Housing Supply in Springfield Township, MI
How many homes are available in Springfield Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Springfield Township real estate market had 19 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Springfield Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 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 Township, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Springfield Township in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Springfield Township, MI
How long does it take to sell a home in Springfield Township, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 23 Days | +203.7% |
Summary: Homes in Springfield Township had an average of 23 days on market in Apr 2024, up by 203.7% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Springfield Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Springfield Township; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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