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 May 2023
Since last year, Springfield Charter Township has remained a Seller's Market.
Housing Prices in Springfield Charter Township, MI
How much do homes in Springfield Charter Township, MI cost?
Median Sold Price
$367,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Springfield Charter Township was $367,500 in May 2024, up 5% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $104K | $122K | +17.3% |
2 Bedrooms | $155.4K | $154K | -0.9% |
3 Bedrooms | $275K | $348.5K | +26.7% |
4 Bedrooms | $487K | $470K | -3.5% |
5+ Bedrooms | $549.2K | $615K | +12.0% |
Summary: Springfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.3%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 26.7%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
Groveland Township | $381K | $432.5K | +13.5% |
Springfield Charter Township | $350K | $367.5K | +5.0% |
Davisburg | $403K | $402.5K | -0.1% |
Independence Charter Township | $385K | $380.4K | -1.2% |
Clarkston | $398.6K | $385.3K | -3.3% |
Housing Supply in Springfield Charter Township, MI
How many homes are available in Springfield Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
64 | 61 | -4.7% |
Summary: The Springfield Charter Township real estate market had 61 homes for sale in May 2024, a 4.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 11 | 7 | -36.4% |
3 Bedrooms | 27 | 19 | -29.6% |
4 Bedrooms | 18 | 22 | +22.2% |
5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Springfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 36.4%, 3 bedroom homes decreased by 29.6%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 11 | -52.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Springfield Charter Township in May 2024, down by 52.2% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 27 Days | +46.3% |
Summary: Homes in Springfield Charter Township had an average of 27 days on market in May 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Springfield Charter Township; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.