Is Summerfield 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, Summerfield Township has remained a Seller's Market.
Key Takeaway
Summerfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summerfield Township, MI
How much do homes in Summerfield Township, MI cost?
Median Sold Price
$299,900
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Summerfield Township have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in Summerfield Township was $299,900 in May 2024, up 13.2% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | - | $183K | N/A |
| 3 Bedrooms | $262.5K | $298.2K | +13.6% |
| 4 Bedrooms | $329.9K | $370K | +12.2% |
| 5+ Bedrooms | $425K | $540K | +27.1% |
Summary: Summerfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 27.1%.
Median Sold Price Compared To Nearby Cities
| Petersburg | $226.1K | $295K | +30.5% |
| Ida | $225.9K | $263.6K | +16.7% |
| Summerfield Township | $265K | $299.9K | +13.2% |
| Ida Township | $242.5K | $267.5K | +10.3% |
| Dundee Township | $297K | $280K | -5.7% |
Housing Supply in Summerfield Township, MI
How many homes are available in Summerfield Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Summary: The Summerfield Township real estate market had 8 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Summerfield Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summerfield Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Summerfield Township in May 2024, up by 100.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Summerfield Township, MI
How long does it take to sell a home in Summerfield Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 1 Day | 16 Days | +1520.0% |
Summary: Homes in Summerfield Township had an average of 16 days on market in May 2024, up by 1520% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summerfield Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Summerfield Township; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
