Is Cedar Springs, 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, Cedar Springs has remained a Seller's Market.
Housing Prices in Cedar Springs, MI
How much do homes in Cedar Springs, MI cost?
Median Sold Price
$295,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cedar Springs was $295,000 in May 2024, up 3.7% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $177K | -41.0% |
2 Bedrooms | $211.5K | $203.2K | -3.9% |
3 Bedrooms | $260K | $280K | +7.7% |
4 Bedrooms | $311.5K | $333.5K | +7.1% |
5+ Bedrooms | $355K | $425K | +19.7% |
Summary: Cedar Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 19.7%.
Median Sold Price Compared To Nearby Cities
Nelson Township | $260K | $294.9K | +13.4% |
Cedar Springs | $284.5K | $295K | +3.7% |
Solon Township | $300K | $301K | 0.3% |
Housing Supply in Cedar Springs, MI
How many homes are available in Cedar Springs, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 36 | -12.2% |
Summary: The Cedar Springs real estate market had 36 homes for sale in May 2024, a 12.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 24 | 19 | -20.8% |
4 Bedrooms | 12 | 13 | +8.3% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Cedar Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 20.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 9 | -55.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Cedar Springs in May 2024, down by 55.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Cedar Springs, MI
How long does it take to sell a home in Cedar Springs, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 27 Days | -30.5% |
Summary: Homes in Cedar Springs had an average of 27 days on market in May 2024, down by 30.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Cedar Springs; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.