Is Springport, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Springport has remained a Seller's Market.
Housing Prices in Springport, MI
How much do homes in Springport, MI cost?
Median Sold Price
$175,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Springport was $175,000 in May 2024, up 11.8% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $158K | - | N/A |
2 Bedrooms | $133K | $152.5K | +14.7% |
3 Bedrooms | $147.4K | $197.5K | +33.9% |
4 Bedrooms | $271.7K | $275K | +1.2% |
5+ Bedrooms | $415K | $150K | -63.9% |
Summary: Springport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 33.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 63.9%.
Median Sold Price Compared To Nearby Cities
Springport Township | $158K | $177.5K | +12.3% |
Springport | $156.5K | $175K | +11.8% |
Housing Supply in Springport, MI
How many homes are available in Springport, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 6 | +20.0% |
Summary: The Springport real estate market had 6 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 2 | 4 | +100.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Springport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Springport in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Springport, MI
How long does it take to sell a home in Springport, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 32 Days | +12.9% |
Summary: Homes in Springport had an average of 32 days on market in May 2024, up by 12.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Springport; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.