Is Springfield, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Springfield has remained a Seller's Market.
Housing Prices in Springfield, MI
How much do homes in Springfield, MI cost?
Median Sold Price
$165,000
$152/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Springfield was $165,000 in April 2024, up 38.7% from last month, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $122K | N/A |
2 Bedrooms | - | $165K | N/A |
3 Bedrooms | $119K | $165K | +38.7% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Springfield housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 38.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Springfield, MI
How many homes are available in Springfield, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 13 | -18.8% |
Summary: The Springfield real estate market had 13 homes for sale in April 2024, a 18.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 8 | 4 | -50.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Springfield in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Springfield, MI
How long does it take to sell a home in Springfield, MI?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 Days | 23 Days | +203.7% |
Summary: Homes in Springfield had an average of 23 days on market in Apr 2024, up by 203.7% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Springfield; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.