Is Spring Lake, 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, Spring Lake has remained a Seller's Market.
Housing Prices in Spring Lake, MI
How much do homes in Spring Lake, MI cost?
Median Sold Price
$396,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spring Lake was $396,000 in April 2024, up 8.2% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $404.9K | $194.5K | -52.0% |
2 Bedrooms | $307K | $259.9K | -15.3% |
3 Bedrooms | $365K | $342.5K | -6.2% |
4 Bedrooms | $392K | $520K | +32.7% |
5+ Bedrooms | $699.9K | $593.9K | -15.1% |
Summary: Spring Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 52%, 2 bedroom homes decreased by 15.3%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 32.7%, and 5+ bedroom homes decreased by 15.1%.
Median Sold Price Compared To Nearby Cities
Grand Haven | $300.2K | $354.9K | +18.3% |
Ferrysburg | $319.9K | $358.7K | +12.1% |
Spring Lake | $365.9K | $396K | +8.2% |
Spring Lake Township | $390.3K | $394K | +0.9% |
Housing Supply in Spring Lake, MI
How many homes are available in Spring Lake, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
89 | 85 | -4.5% |
Summary: The Spring Lake real estate market had 85 homes for sale in April 2024, a 4.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 34 | 34 | 0.0% |
4 Bedrooms | 18 | 17 | -5.6% |
5+ Bedrooms | 20 | 16 | -20.0% |
Summary: The Spring Lake 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 increased by 6.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 19 | -42.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Spring Lake in April 2024, down by 42.4% month-over-month. Of the 19 sold homes, 37% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for Spring Lake, MI
How long does it take to sell a home in Spring Lake, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
58 Days | 17 Days | -70.1% |
Summary: Homes in Spring Lake had an average of 17 days on market in Apr 2024, down by 70.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Spring Lake; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.