Is Cannon 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, Cannon Township has remained a Seller's Market.
Housing Prices in Cannon Township, MI
How much do homes in Cannon Township, MI cost?
Median Sold Price
$453,100
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cannon Township was $453,100 in May 2024, up 1.8% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $360K | N/A |
2 Bedrooms | $268K | $233.7K | -12.8% |
3 Bedrooms | $375K | $398.5K | +6.3% |
4 Bedrooms | $478K | $555K | +16.1% |
5+ Bedrooms | $632.2K | $669K | +5.8% |
Summary: Cannon Township 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 decreased by 12.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Courtland Township | $425K | $450K | +5.9% |
Belmont | $441K | $460K | +4.3% |
Ada Township | $575K | $595K | +3.5% |
Rockford | $402K | $415.4K | +3.3% |
Cannon Township | $445K | $453.1K | +1.8% |
Housing Supply in Cannon Township, MI
How many homes are available in Cannon Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 86 | +22.9% |
Summary: The Cannon Township real estate market had 86 homes for sale in May 2024, a 22.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 26 | 35 | +34.6% |
4 Bedrooms | 25 | 28 | +12.0% |
5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Cannon 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 increased by 50%, 3 bedroom homes increased by 34.6%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 26 | +44.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Cannon Township in May 2024, up by 44.4% month-over-month. Of the 26 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for Cannon Township, MI
How long does it take to sell a home in Cannon Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 34 Days | +79.2% |
Summary: Homes in Cannon Township had an average of 34 days on market in May 2024, up by 79.2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 26 homes were sold in Cannon Township; 77% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.