Is Cheboygan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cheboygan was a Seller's Market.
Housing Prices in Cheboygan, MI
How much do homes in Cheboygan, MI cost?
Median Sold Price
$207,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cheboygan was $207,000 in May 2024, up 29.4% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97.5K | $195K | +100.0% |
2 Bedrooms | $160K | $187.5K | +17.2% |
3 Bedrooms | $160K | $195K | +21.9% |
4 Bedrooms | $200K | $272K | +36.0% |
5+ Bedrooms | $290K | $330K | +13.8% |
Summary: Cheboygan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 36%, and 5+ bedroom homes increased by 13.8%.
Median Sold Price Compared To Nearby Cities
Cheboygan | $160K | $207K | +29.4% |
Benton Township | $250K | $303.7K | +21.5% |
Housing Supply in Cheboygan, MI
How many homes are available in Cheboygan, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 78 | +34.5% |
Summary: The Cheboygan real estate market had 78 homes for sale in May 2024, a 34.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 22 | +120.0% |
3 Bedrooms | 32 | 39 | +21.9% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Cheboygan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 120%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 10 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Cheboygan in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Cheboygan, MI
We’re sorry, we don't have information for this market at the moment