$51,275
10.03 Acres
Land
Linda Koetje, Listing Office: City2Shore Real Estate Northern Michigan
Is Cadillac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Cadillac was a Seller's Market.
Key Takeaway
Cadillac is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cadillac, MI
How much do homes in Cadillac, MI cost?
Median Sold Price
$225,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,250(+21.8%)
Key Takeaway
Homes in Cadillac have sold for 21.8% more than they did a year ago.
Summary: The median home sold price in Cadillac was $225,000 in November 2024, up 21.8% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86.2K | $130K | +50.7% |
| 2 Bedrooms | $165.7K | $174.9K | +5.5% |
| 3 Bedrooms | $189K | $224K | +18.5% |
| 4 Bedrooms | $238.5K | $287.5K | +20.5% |
| 5+ Bedrooms | $265K | $289.6K | +9.3% |
Summary: Cadillac housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.7%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
| Cadillac | $184.7K | $225K | +21.8% |
| Haring Charter Township | $210K | $249.9K | +19.0% |
Housing Supply in Cadillac, MI
How many homes are available in Cadillac, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 119 | -4.0% |
Summary: The Cadillac real estate market had 119 homes for sale in November 2024, a 4.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 34 | 34 | 0.0% |
| 3 Bedrooms | 58 | 54 | -6.9% |
| 4 Bedrooms | 24 | 23 | -4.2% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Cadillac housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cadillac, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Cadillac in November 2024, down by 4.8% month-over-month. Of the 19 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.
Days on Market for Cadillac, MI
How long does it take to sell a home in Cadillac, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 54 Days | +27.9% |
Summary: Homes in Cadillac had an average of 54 days on market in Nov 2024, up by 27.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cadillac has remained consistent over time.
Summary: During November 2024, 20 homes were sold in Cadillac; 20% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.