$2,019 Closing Credit*
$170,000
1,514 SqFt
3 Beds
•1 Full Bath
Doug Beiswanger, Listing Office: BNR Real Estate Group
Is Summit 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, Summit Township has remained a Seller's Market.
Key Takeaway
Summit Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit Township, MI
How much do homes in Summit Township, MI cost?
Median Sold Price
$222,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$16,566(+8.1%)
Key Takeaway
Homes in Summit Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Summit Township was $222,000 in November 2024, up 8.1% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $133.5K | +48.3% |
| 2 Bedrooms | $160K | $160K | 0.0% |
| 3 Bedrooms | $200K | $220K | +10.0% |
| 4 Bedrooms | $253K | $300K | +18.6% |
| 5+ Bedrooms | $382.5K | $260K | -32.0% |
Summary: Summit Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes decreased by 32%.
Median Sold Price Compared To Nearby Cities
| Blackman Charter Township | $177K | $200K | +13.0% |
| Napoleon Township | $254.8K | $285K | +11.9% |
| Jackson | $165.9K | $185K | +11.5% |
| Summit Township | $205.4K | $222K | +8.1% |
| Liberty Township | $350K | $317K | -9.4% |
Housing Supply in Summit Township, MI
How many homes are available in Summit Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 103 | 107 | +3.9% |
Summary: The Summit Township real estate market had 107 homes for sale in November 2024, a 3.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 20 | 23 | +15.0% |
| 3 Bedrooms | 49 | 52 | +6.1% |
| 4 Bedrooms | 27 | 26 | -3.7% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Summit Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 28 | +16.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Summit Township in November 2024, up by 16.7% month-over-month. Of the 28 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for Summit Township, MI
How long does it take to sell a home in Summit Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 56 Days | +102.5% |
Summary: Homes in Summit Township had an average of 56 days on market in Nov 2024, up by 102.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 28 homes were sold in Summit Township; 43% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.