Is Cedar Springs, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cedar Springs is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Cedar Springs has remained a Seller's Market.

Key Takeaway

Cedar Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$15,500(+5.6%)

Key Takeaway

Homes in Cedar Springs have sold for 5.6% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 -$300K
N/A
2 $205K$206.5K
+0.7%
3 $250K$278.2K
+11.3%
4 $285K$328.3K
+15.2%
5+ $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
+18.0%
Cedar Springs
+5.6%
Solon Township
-1.0%

Housing Supply in Cedar Springs, MI

How many homes are available in Cedar Springs, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2629+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

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 22
0.0%
3 1514
-6.7%
4 710
+42.9%
5+ 22
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 2024Feb 2024CHANGE
79+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cedar Springs, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.

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 2023Feb 2024CHANGE
5 Days63 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cedar Springs are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Cedar Springs, MI

Nearby Markets to Cedar Springs, MI

What housing markets are near Cedar Springs, MI?