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 November 2023

At the same time last year, Cement City was a Neutral 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

$287,000

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$5,500(-1.9%)

Key Takeaway

Homes in Cement City have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Cement City was $287,000 in November 2024, down 1.9% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $140K$190K
+35.7%
3 $310K$284K
-8.4%
4 $282.5K$432.5K
+53.1%
5+ $140K$422.5K
+201.8%

Summary: Cement City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.7%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 53.1%, and 5+ bedroom homes increased by 201.8%.

Median Sold Price Compared To Nearby Cities

Jerome
+11.7%
Somerset Township
+7.1%
Cement City
+5.4%
Cement City
-1.9%

Housing Supply in Cement City, MI

How many homes are available in Cement City, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
167-56.3%

Summary: The Cement City real estate market had 7 homes for sale in November 2024, a 56.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 31
-66.7%
3 103
-70.0%
4 33
0.0%
5+ 00
0.0%

Summary: The Cement City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 70%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
92-77.8%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were 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 November 2024, down by 77.8% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Cement City, MI

How long does it take to sell a home in Cement City, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
78 Days43 Days-44.9%

Summary: Homes in Cement City had an average of 43 days on market in Nov 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Cement City has remained consistent over time.

Summary: During November 2024, 2 homes were sold in Cement City; 0% of homes were sold within 30 days, 100% 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 3 Days Ago

Newest Listings in Cement City, MI

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