Is Cherry Grove Township, 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, Cherry Grove Township was a Buyer's Market.
Key Takeaway
Cherry Grove Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cherry Grove Township, MI
How much do homes in Cherry Grove Township, MI cost?
Median Sold Price
$300,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cherry Grove Township have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Cherry Grove Township was $300,000 in May 2024, down 1.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $301K | $159.8K | -46.9% |
| 3 Bedrooms | $245K | $337.5K | +37.8% |
| 4 Bedrooms | $316.7K | $357.5K | +12.9% |
| 5+ Bedrooms | - | $318.7K | N/A |
Summary: Cherry Grove Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 46.9%, 3 bedroom homes increased by 37.8%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cadillac | $160K | $210K | +31.3% |
| Haring Charter Township | $192K | $227K | +18.2% |
| Cherry Grove Township | $305K | $300K | -1.6% |
| Burdell Township | $220K | $164.8K | -25.1% |
Housing Supply in Cherry Grove Township, MI
How many homes are available in Cherry Grove Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 16 | +77.8% |
Summary: The Cherry Grove Township real estate market had 16 homes for sale in May 2024, a 77.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 2 | 4 | +100.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Cherry Grove Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Grove Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Cherry Grove Township in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Cherry Grove Township, MI
How long does it take to sell a home in Cherry Grove Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 105 Days | +456.6% |
Summary: Homes in Cherry Grove Township had an average of 105 days on market in May 2024, up by 456.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cherry Grove Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Cherry Grove Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
