Is Cement City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Cement City was a Buyer's Market.
Housing Prices in Cement City, MI
How much do homes in Cement City, MI cost?
Median Sold Price
$290,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Cement City was $290,000 in February 2024, up 65.7% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $175K | N/A |
2 Bedrooms | $120K | $167.5K | +39.6% |
3 Bedrooms | $168.7K | $334K | +97.9% |
4 Bedrooms | $190K | $282.5K | +48.7% |
5+ Bedrooms | $235K | - | N/A |
Summary: Cement City 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 39.6%, 3 bedroom homes increased by 97.9%, 4 bedroom homes increased by 48.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Cement City | $175K | $290K | +65.7% |
Cement City | $229.5K | $297.5K | +29.6% |
Columbia Township | $277K | $304.5K | +9.9% |
Housing Supply in Cement City, MI
How many homes are available in Cement City, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
5 | 9 | +80.0% |
Summary: The Cement City real estate market had 9 homes for sale in February 2024, a 80.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 3 | 8 | +166.7% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cement City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 166.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Cement City in February 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Cement City, MI
How long does it take to sell a home in Cement City, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 2 homes were sold in Cement City; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.