$2,375 Closing Credit*
$200,000
Jesse Baragar, Listing Office: Baragar Realty
Is Spencer Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Spencer Township has remained a Seller's Market.
Key Takeaway
Spencer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spencer Township, MI
How much do homes in Spencer Township, MI cost?
Median Sold Price
$340,950
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$115,950(+51.5%)
Key Takeaway
Homes in Spencer Township have sold for 51.5% more than they did a year ago.
Summary: The median home sold price in Spencer Township was $340,950 in November 2024, up 51.5% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133.5K | $245K | +83.5% |
| 2 Bedrooms | $158K | $210K | +32.9% |
| 3 Bedrooms | $210K | $345K | +64.3% |
| 4 Bedrooms | $362.5K | $369.9K | +2.0% |
| 5+ Bedrooms | - | $620K | N/A |
Summary: Spencer Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 83.5%, 2 bedroom homes increased by 32.9%, 3 bedroom homes increased by 64.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Spencer Township | $225K | $340.9K | +51.5% |
| Gowen | $210K | $318K | +51.4% |
| Oakfield Township | $321K | $375K | +16.8% |
| Montcalm Township | $240.5K | $220K | -8.5% |
Housing Supply in Spencer Township, MI
How many homes are available in Spencer Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Summary: The Spencer Township real estate market had 19 homes for sale in November 2024, a 5.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Spencer Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spencer Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Spencer Township in November 2024, up by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Spencer Township, MI
How long does it take to sell a home in Spencer Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 41 Days | -24.9% |
Summary: Homes in Spencer Township had an average of 41 days on market in Nov 2024, down by 24.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spencer Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Spencer Township; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
