$5,320 Closing Credit*
$448,000
1,724 SqFt
4 Beds
•3 Full Baths, 1 Partial
Christopher A Linda, Listing Office: Icon Realty Group LLC
Is Cannon Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cannon Township has remained a Seller's Market.
Key Takeaway
Cannon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cannon Township, MI
How much do homes in Cannon Township, MI cost?
Median Sold Price
$482,000
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,500(+10.2%)
Key Takeaway
Homes in Cannon Township have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Cannon Township was $482,000 in October 2024, up 10.2% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $237.5K | $251K | +5.7% |
| 3 Bedrooms | $387.1K | $387.4K | 0.1% |
| 4 Bedrooms | $532.5K | $572.5K | +7.5% |
| 5+ Bedrooms | $689K | $667.5K | -3.1% |
Summary: Cannon Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Courtland Township | $448.3K | $520K | +16.0% |
| Ada Township | $575K | $647.4K | +12.6% |
| Cannon Township | $437.5K | $482K | +10.2% |
| Belmont | $427.5K | $466K | +9.0% |
| Rockford | $425K | $430K | +1.2% |
Housing Supply in Cannon Township, MI
How many homes are available in Cannon Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 53 | -5.4% |
Summary: The Cannon Township real estate market had 53 homes for sale in October 2024, a 5.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 1 | -75.0% |
| 3 Bedrooms | 22 | 19 | -13.6% |
| 4 Bedrooms | 20 | 22 | +10.0% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Cannon Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 75%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cannon Township, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Cannon Township in October 2024, down by 35.0% month-over-month. Of the 13 sold homes, 85% were sold under asking, 8% were sold at asking, and 8% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 58 Days | +44.1% |
Summary: Homes in Cannon Township had an average of 58 days on market in Oct 2024, up by 44.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cannon Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Cannon Township; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
