Is Cedar Springs, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$299,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cedar Springs have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Cedar Springs was $299,000 in March 2024, up 8.7% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $300K | N/A |
| 2 Bedrooms | $218K | $206.5K | -5.3% |
| 3 Bedrooms | $235K | $287.4K | +22.3% |
| 4 Bedrooms | $292K | $335K | +14.7% |
| 5+ Bedrooms | $335K | $416.5K | +24.3% |
Summary: Cedar Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 22.3%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 24.3%.
Median Sold Price Compared To Nearby Cities
| Nelson Township | $250K | $296K | +18.4% |
| Cedar Springs | $275K | $299K | +8.7% |
| 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 36 | +5.9% |
Summary: The Cedar Springs real estate market had 36 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Cedar Springs housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 31.3%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Springs, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Cedar Springs in March 2024, down by 36.4% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 67 Days | 28 Days | -57.8% |
Summary: Homes in Cedar Springs had an average of 28 days on market in Mar 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cedar Springs are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Cedar Springs; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
