Is Cadillac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cadillac has remained a Seller's Market.
Housing Prices in Cadillac, MI
How much do homes in Cadillac, MI cost?
Median Sold Price
$210,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cadillac was $210,000 in April 2024, up 32.9% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $47.5K | $125K | +163.1% |
2 Bedrooms | $147.5K | $165.7K | +12.4% |
3 Bedrooms | $148.5K | $209.5K | +41.1% |
4 Bedrooms | $168.9K | $262.5K | +55.4% |
5+ Bedrooms | $280K | $299.7K | +7.1% |
Summary: Cadillac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 163.1%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 41.1%, 4 bedroom homes increased by 55.4%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in Cadillac, MI
How many homes are available in Cadillac, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
69 | 72 | +4.3% |
Summary: The Cadillac real estate market had 72 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 17 | 18 | +5.9% |
3 Bedrooms | 28 | 29 | +3.6% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Cadillac housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 21 | +40.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Cadillac in April 2024, up by 40.0% month-over-month. Of the 21 sold homes, 52% were sold under asking, 10% were sold at asking, and 38% were sold over asking.
Days on Market for Cadillac, MI
How long does it take to sell a home in Cadillac, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 65 Days | +127.7% |
Summary: Homes in Cadillac had an average of 65 days on market in Apr 2024, up by 127.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in Cadillac; 19% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.