Is Cheboygan County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cheboygan County is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Cheboygan County has remained a Seller's Market.

Key Takeaway

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

How much do homes in Cheboygan County, MI cost?

Median Sold Price

$205,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$19,464(+10.5%)

Key Takeaway

Homes in Cheboygan County have sold for 10.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $130.5K$134.4K
+3.0%
2 $154.9K$158K
+2.0%
3 $190K$220K
+15.8%
4 $233.5K$260K
+11.3%
5+ $319K$535K
+67.7%

Median Sold Price Compared To Nearby Counties

Otsego County
+23.9%
Emmet County
+19.5%
Charlevoix County
+12.7%
Presque Isle County
+11.7%
Cheboygan County
+10.5%

How many homes are available in Cheboygan County, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
179169-5.6%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 89
+12.5%
2 3635
-2.8%
3 9184
-7.7%
4 2929
0.0%
5+ 1512
-20.0%

Number of Homes Sold

Aug 2022Sep 2022%
38380.0%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cheboygan County, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
34 Days34 Days+1.0%

Breakdown of Home Sale Times

1 Home Was 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 Cheboygan County has remained consistent over time.

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

About Cheboygan County, MI

Homes for sale in Cheboygan County, MI have reached 169. The inventory of homes for sale in Cheboygan County, MI between August 2022 and September 2022 decreased by 5.6%. The median list price of listings available in September 2022 was $205,000, while the average time on the real estate market was 34 days. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 3%, 2 bedrooms properties became 2% more expensive, 3 bedrooms properties became 15.8% more expensive, prices of 4 bedrooms properties increased by 11.3%, 5 bedrooms properties prices increased by 67.7%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 12.5%, 2 bedrooms homes inventory decreased by 2.8%, volume of 3 bedrooms homes went down by 7.7%, 4 bedrooms homes inventory did not change, 5 bedrooms homes became 20% less available. In September 2022, from all listings sold in Cheboygan County, MI there were more than 13 sold above asking price, over 21 sold below and more than 4 were sold right at the asked price.

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