Is Cement City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cement City is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Cement City was a Buyer's Market.

Key Takeaway

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

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

+$115,000(+65.7%)

Key Takeaway

Homes in Cement City have sold for 65.7% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 -$175K
N/A
2 $120K$167.5K
+39.6%
3 $168.7K$334K
+97.9%
4 $190K$282.5K
+48.7%
5+ $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
+65.7%
Cement City
+29.6%
Columbia Township
+9.9%

Housing Supply in Cement City, MI

How many homes are available in Cement City, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
59+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 38
+166.7%
4 10
-100.0%
5+ 00
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 2024Feb 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cement City, you may be able to get a good deal. 50% of homes here sold below asking price last month.

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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 28 Days Ago

Newest Listings in Cement City, MI

Nearby Markets to Cement City, MI

What housing markets are near Cement City, MI?