Is Cedar Springs, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$290,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Cedar Springs was $290,000 in February 2024, up 5.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $300K | N/A |
2 Bedrooms | $205K | $206.5K | +0.7% |
3 Bedrooms | $250K | $278.2K | +11.3% |
4 Bedrooms | $285K | $328.3K | +15.2% |
5+ Bedrooms | $350K | $408K | +16.6% |
Summary: Cedar Springs housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 16.6%.
Median Sold Price Compared To Nearby Cities
Nelson Township | $250K | $295K | +18.0% |
Cedar Springs | $274.5K | $290K | +5.6% |
Solon Township | $299K | $296K | -1.0% |
Housing Supply in Cedar Springs, MI
How many homes are available in Cedar Springs, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 29 | +11.5% |
Summary: The Cedar Springs real estate market had 29 homes for sale in February 2024, a 11.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 15 | 14 | -6.7% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Cedar Springs housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
7 | 9 | +28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Cedar Springs in February 2024, up by 28.6% month-over-month. Of the 9 sold homes, 11% were sold under asking, 56% were sold at asking, and 33% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
5 Days | 63 Days | +1083.3% |
Summary: Homes in Cedar Springs had an average of 63 days on market in Feb 2024, up by 1083.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 9 homes were sold in Cedar Springs; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.