Is Sumpter 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, Sumpter Township has remained a Seller's Market.
Key Takeaway
Sumpter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sumpter Township, MI
How much do homes in Sumpter Township, MI cost?
Median Sold Price
$279,900
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sumpter Township have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Sumpter Township was $279,900 in May 2024, up 1.1% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $114K | $199.5K | +75.0% |
| 3 Bedrooms | $255K | $275K | +7.8% |
| 4 Bedrooms | $332.5K | $300.5K | -9.6% |
| 5+ Bedrooms | $325K | $427K | +31.4% |
Summary: Sumpter 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 increased by 75%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes increased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Huron Charter Township | $300K | $335.5K | +11.8% |
| Exeter Township | $278K | $300.2K | +8.0% |
| Sumpter Township | $276.9K | $279.9K | +1.1% |
| Van Buren Charter Township | $299.3K | $268K | -10.5% |
Housing Supply in Sumpter Township, MI
How many homes are available in Sumpter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 33 | -13.2% |
Summary: The Sumpter Township real estate market had 33 homes for sale in May 2024, a 13.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 21 | 16 | -23.8% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Sumpter 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 66.7%, 3 bedroom homes decreased by 23.8%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sumpter Township, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Sumpter Township in May 2024, down by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Sumpter Township, MI
How long does it take to sell a home in Sumpter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 11 Days | -68.8% |
Summary: Homes in Sumpter Township had an average of 11 days on market in May 2024, down by 68.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sumpter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Sumpter Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.