Is Cannon Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cannon Township has remained a Seller's Market.
Housing Prices in Cannon Township, MI
How much do homes in Cannon Township, MI cost?
Median Sold Price
$451,550
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cannon Township was $451,550 in April 2024, up 1.5% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $360K | N/A |
2 Bedrooms | $268K | $245K | -8.6% |
3 Bedrooms | $375K | $396.7K | +5.8% |
4 Bedrooms | $480K | $552.5K | +15.1% |
5+ Bedrooms | $636.5K | $669K | +5.1% |
Summary: Cannon Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
Rockford | $389.2K | $422K | +8.4% |
Courtland Township | $415K | $448.7K | +8.1% |
Ada Township | $562.2K | $600K | +6.7% |
Cannon Township | $445K | $451.5K | +1.5% |
Belmont | $440.5K | $444.9K | +1.0% |
Housing Supply in Cannon Township, MI
How many homes are available in Cannon Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
41 | 67 | +63.4% |
Summary: The Cannon Township real estate market had 67 homes for sale in April 2024, a 63.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 16 | 24 | +50.0% |
4 Bedrooms | 10 | 26 | +160.0% |
5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Cannon Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 160%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 18 | +500.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Cannon Township in April 2024, up by 500.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 50% were sold at asking, and 22% were sold over asking.
Days on Market for Cannon Township, MI
How long does it take to sell a home in Cannon Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
184 Days | 26 Days | -85.5% |
Summary: Homes in Cannon Township had an average of 26 days on market in Apr 2024, down by 85.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Cannon Township; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.