$3,229 Closing Credit*
$271,900
960 SqFt
3 Beds
•2 Full Baths
Chris Dean, Listing Office: Gateway to Homes
Is Summit 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, 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
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,000(+11.0%)
Key Takeaway
Homes in Summit Township have sold for 11% more than they did a year ago.
Summary: The median home sold price in Summit Township was $222,000 in October 2024, up 11% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $133.5K | +66.9% |
| 2 Bedrooms | $156K | $164K | +5.1% |
| 3 Bedrooms | $198.8K | $216K | +8.6% |
| 4 Bedrooms | $249.9K | $299K | +19.6% |
| 5+ Bedrooms | $415K | $267.5K | -35.5% |
Summary: Summit Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66.9%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes decreased by 35.5%.
Median Sold Price Compared To Nearby Cities
| Blackman Charter Township | $172.2K | $200K | +16.1% |
| Napoleon Township | $259.9K | $292K | +12.3% |
| Summit Township | $200K | $222K | +11.0% |
| Jackson | $165K | $181K | +9.7% |
| Liberty Township | $340K | $335K | -1.5% |
Housing Supply in Summit Township, MI
How many homes are available in Summit Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 110 | +6.8% |
Summary: The Summit Township real estate market had 110 homes for sale in October 2024, a 6.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 20 | +42.9% |
| 3 Bedrooms | 53 | 52 | -1.9% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Summit Township 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 increased by 42.9%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 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. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Summit Township in October 2024, down by 8.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 41% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 35 Days | -14.2% |
Summary: Homes in Summit Township had an average of 35 days on market in Oct 2024, down by 14.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 22 homes were sold in Summit Township; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% 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.