$2,789 Closing Credit*
$234,900
2,698 SqFt
5 Beds
•3 Full Baths
Christopher Powers, Crystal Powers, Listing Office: eXp Realty, LLC
Is Spring Arbor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Spring Arbor has remained a Seller's Market.
Key Takeaway
Spring Arbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Arbor, MI
How much do homes in Spring Arbor, MI cost?
Median Sold Price
$269,750
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,250(-5.4%)
Key Takeaway
Homes in Spring Arbor have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in Spring Arbor was $269,750 in October 2024, down 5.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165.5K | $170K | +2.7% |
| 3 Bedrooms | $285K | $255K | -10.5% |
| 4 Bedrooms | $323.2K | $332.5K | +2.9% |
| 5+ Bedrooms | $319K | $478.5K | +50.0% |
Summary: Spring Arbor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 50%.
Median Sold Price Compared To Nearby Cities
| Horton | $340K | $350K | +2.9% |
| Spring Arbor Township | $250.7K | $255K | +1.7% |
| Concord Township | $239K | $230K | -3.8% |
| Spring Arbor | $285K | $269.7K | -5.4% |
Housing Supply in Spring Arbor, MI
How many homes are available in Spring Arbor, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Summary: The Spring Arbor real estate market had 14 homes for sale in October 2024, a 22.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Spring Arbor housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Arbor, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Spring Arbor in October 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Spring Arbor, MI
How long does it take to sell a home in Spring Arbor, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 126 Days | 37 Days | -70.0% |
Summary: Homes in Spring Arbor had an average of 37 days on market in Oct 2024, down by 70% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spring Arbor has remained consistent over time.
Summary: During October 2024, 5 homes were sold in Spring Arbor; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
