Is Cheshire Township, 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, Cheshire Township has remained a Seller's Market.
Key Takeaway
Cheshire Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheshire Township, MI
How much do homes in Cheshire Township, MI cost?
Median Sold Price
$197,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cheshire Township have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Cheshire Township was $197,000 in March 2024, down 3.4% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | - | N/A |
| 2 Bedrooms | $145K | $160K | +10.3% |
| 3 Bedrooms | $225K | $189.9K | -15.6% |
| 4 Bedrooms | $261K | $286K | +9.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: Cheshire Township 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 increased by 10.3%, 3 bedroom homes decreased by 15.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bloomingdale Township | $149.9K | $220K | +46.8% |
| Cheshire Township | $204K | $197K | -3.4% |
| Pullman | $180K | $162.5K | -9.7% |
Housing Supply in Cheshire Township, MI
How many homes are available in Cheshire Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Summary: The Cheshire Township real estate market had 4 homes for sale in March 2024, a 50.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Cheshire Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheshire Township, 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 Cheshire Township in March 2024, down by 33.3% 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 Cheshire Township, MI
How long does it take to sell a home in Cheshire Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 64 Days | +53.6% |
Summary: Homes in Cheshire Township had an average of 64 days on market in Mar 2024, up by 53.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cheshire Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Cheshire Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
