$4,156 Closing Credit*
$350,000
1,880 SqFt
3 Beds
•2 Full Baths
SUSAN M MOHLMAN, Listing Office: Sproat Realty Professionals-J
Is Spring Arbor Township, 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 Township has remained a Seller's Market.
Key Takeaway
Spring Arbor Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Arbor Township, MI
How much do homes in Spring Arbor Township, MI cost?
Median Sold Price
$255,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,250(+1.7%)
Key Takeaway
Homes in Spring Arbor Township have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Spring Arbor Township was $255,000 in October 2024, up 1.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $99K | N/A |
| 2 Bedrooms | $151.2K | $118.9K | -21.3% |
| 3 Bedrooms | $245K | $243K | -0.8% |
| 4 Bedrooms | $263K | $332.5K | +26.4% |
| 5+ Bedrooms | $296.5K | $427.5K | +44.2% |
Summary: Spring Arbor Township 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 decreased by 21.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 26.4%, and 5+ bedroom homes increased by 44.2%.
Median Sold Price Compared To Nearby Cities
| Summit Township | $200K | $222K | +11.0% |
| Horton | $340K | $350K | +2.9% |
| Spring Arbor Township | $250.7K | $255K | +1.7% |
| Spring Arbor | $285K | $269.7K | -5.4% |
Housing Supply in Spring Arbor Township, MI
How many homes are available in Spring Arbor Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Summary: The Spring Arbor Township real estate market had 33 homes for sale in October 2024, a 8.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Spring Arbor Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Arbor Township, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Spring Arbor Township in October 2024, down by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Spring Arbor Township, MI
How long does it take to sell a home in Spring Arbor Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 33 Days | -26.6% |
Summary: Homes in Spring Arbor Township had an average of 33 days on market in Oct 2024, down by 26.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spring Arbor Township has remained consistent over time.
Summary: During October 2024, 8 homes were sold in Spring Arbor Township; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
