Is Cambridge Township, 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, Cambridge Township has remained a Seller's Market.
Housing Prices in Cambridge Township, MI
How much do homes in Cambridge Township, MI cost?
Median Sold Price
$299,900
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cambridge Township was $299,900 in May 2024, up 3.4% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $135K | +3.8% |
2 Bedrooms | $200K | $197.8K | -1.1% |
3 Bedrooms | $294.9K | $295.5K | 0.2% |
4 Bedrooms | $320K | $439K | +37.2% |
5+ Bedrooms | $400K | $622K | +55.5% |
Summary: Cambridge Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 37.2%, and 5+ bedroom homes increased by 55.5%.
Median Sold Price Compared To Nearby Cities
Cambridge Township | $290K | $299.9K | +3.4% |
Tipton | $310.2K | $318.5K | +2.7% |
Onsted | $299.9K | $307.5K | +2.5% |
Manitou Beach | $360.2K | $318K | -11.7% |
Housing Supply in Cambridge Township, MI
How many homes are available in Cambridge Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 39 | +21.9% |
Summary: The Cambridge Township real estate market had 39 homes for sale in May 2024, a 21.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 11 | 12 | +9.1% |
4 Bedrooms | 5 | 10 | +100.0% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Cambridge Township 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 12.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 13 | +62.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Cambridge Township in May 2024, up by 62.5% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Cambridge Township, MI
How long does it take to sell a home in Cambridge Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 58 Days | +86.9% |
Summary: Homes in Cambridge Township had an average of 58 days on market in May 2024, up by 86.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Cambridge Township; 46% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.