Is Cadillac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cadillac was a Buyer's Market.
Key Takeaway
Cadillac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cadillac, MI
How much do homes in Cadillac, MI cost?
Median Sold Price
$208,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cadillac have sold for 29.2% more than they did a year ago.
Summary: The median home sold price in Cadillac was $208,000 in March 2024, up 29.2% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.5K | $125K | +163.1% |
| 2 Bedrooms | $152.5K | $159.9K | +4.9% |
| 3 Bedrooms | $157.5K | $210K | +33.3% |
| 4 Bedrooms | $163.4K | $263.7K | +61.4% |
| 5+ Bedrooms | $280K | $299.7K | +7.1% |
Summary: Cadillac housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 163.1%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 61.4%, 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 | 70 | -1.4% |
Summary: The Cadillac real estate market had 70 homes for sale in March 2024, a 1.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 21 | 17 | -19.0% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Cadillac housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 19%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cadillac, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Cadillac in March 2024, down by 17.6% month-over-month. Of the 14 sold homes, 64% were sold under asking, 7% were sold at asking, and 29% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 92 Days | 140 Days | +52.3% |
Summary: Homes in Cadillac had an average of 140 days on market in Mar 2024, up by 52.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cadillac are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 14 homes were sold in Cadillac; 7% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 71% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.