Is Spruce, MI 48762 a buyer’s or seller’s market?
Spruce is a seller’s market. With about 2.3 months of supply and 14% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Spruce housing market right now
In the three months ending August 31, 2026, 14% of homes in Spruce, MI 48762 sold above their list price, the typical home went under contract in 30 days and there were 2.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 7 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold faster (68 days then) and the median sale price rose 72% to $224,903. Overall, Spruce is less competitive than a year ago, which gives buyers more room.
Within Alcona County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in 89%.
Nearby, buyers who want less competition could look at Hubbard Lake 49747 (0% sold over asking) or Mikado 48745 (0% sold over asking), while Barton City 48705 (33% sold over asking) is even more competitive.
Run the numbers for 48762
Nearby markets
Barton City 48705Balanced $153 /sq ftBlack River 48721Seller’s market $152 /sq ftCurran 48728Buyer’s market $173 /sq ftGlennie 48737Buyer’s market $96 /sq ft Browse all markets →Where Spruce is
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Questions about Spruce real estate
Is Spruce a buyer’s or seller’s market?
A seller’s market: there were 2.3 months of supply in Spruce, MI 48762 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Spruce?
The typical home went under contract in 30 days in the latest three months.
Do homes in Spruce sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 98.2% of the list price.
What are property taxes in Spruce?
About 0.82% of a home’s value a year in Alcona County, or roughly $3,280 on a $400,000 home.
What is the median home price in Spruce?
The median sale price was $224,903 in the three months ending August 31, 2026, about $106 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology