Is Cedar Springs, 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, Cedar Springs has remained a Seller's Market.
Housing Prices in Cedar Springs, MI
How much do homes in Cedar Springs, MI cost?
Median Sold Price
$296,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cedar Springs was $296,000 in April 2024, up 7.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $300K | N/A |
2 Bedrooms | $211.5K | $208.2K | -1.5% |
3 Bedrooms | $235K | $287.4K | +22.3% |
4 Bedrooms | $310K | $337K | +8.7% |
5+ Bedrooms | $357.5K | $425K | +18.9% |
Summary: Cedar Springs 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 1.5%, 3 bedroom homes increased by 22.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
Nelson Township | $250K | $296K | +18.4% |
Cedar Springs | $275K | $296K | +7.6% |
Solon Township | $300K | $302K | +0.7% |
Housing Supply in Cedar Springs, MI
How many homes are available in Cedar Springs, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 39 | +2.6% |
Summary: The Cedar Springs real estate market had 39 homes for sale in April 2024, a 2.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 21 | 22 | +4.8% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Cedar Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 18 | +125.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Cedar Springs in April 2024, up by 125.0% month-over-month. Of the 18 sold homes, 44% were sold under asking, 6% were sold at asking, and 50% were sold over asking.
Days on Market for Cedar Springs, MI
How long does it take to sell a home in Cedar Springs, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
7 Days | 24 Days | +212.5% |
Summary: Homes in Cedar Springs had an average of 24 days on market in Apr 2024, up by 212.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Cedar Springs; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.