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.
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
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
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
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.