$225,000
2.00 Acres
Land
Cindy B Anderson, Listing Office: Lake Homes Realty, LLC
Is Cedar, 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, Cedar was a Neutral Market.
Key Takeaway
Cedar is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cedar, MI
How much do homes in Cedar, MI cost?
Median Sold Price
$449,000
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$42,860(-8.7%)
Key Takeaway
Homes in Cedar have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in Cedar was $449,000 in November 2024, down 8.7% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.4K | - | N/A |
| 2 Bedrooms | $330K | $400.6K | +21.4% |
| 3 Bedrooms | $445K | $439.5K | -1.2% |
| 4 Bedrooms | $522.5K | $570K | +9.1% |
| 5+ Bedrooms | $1.6M | $647.5K | -60.8% |
Summary: Cedar housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 60.8%.
Median Sold Price Compared To Nearby Cities
| Cedar | $491.8K | $449K | -8.7% |
| Maple City | $572.5K | $405K | -29.3% |
| Kasson Township | $587.5K | $372.9K | -36.5% |
| Centerville Township | $807K | $430K | -46.7% |
Housing Supply in Cedar, MI
How many homes are available in Cedar, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 18 | -28.0% |
Summary: The Cedar real estate market had 18 homes for sale in November 2024, a 28.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 12 | 9 | -25.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Cedar housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Cedar in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for Cedar, MI
How long does it take to sell a home in Cedar, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 91 Days | 60 Days | -33.8% |
Summary: Homes in Cedar had an average of 60 days on market in Nov 2024, down by 33.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cedar has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Cedar; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
