$10,000
0.24 Acres
Land
Claire Halliwill, Listing Office: Remerica Somerset Realty
Is Cement City, 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, Cement City was a Neutral Market.
Key Takeaway
Cement City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cement City, MI
How much do homes in Cement City, MI cost?
Median Sold Price
$287,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$5,500(-1.9%)
Key Takeaway
Homes in Cement City have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in Cement City was $287,000 in November 2024, down 1.9% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $140K | $190K | +35.7% |
| 3 Bedrooms | $310K | $284K | -8.4% |
| 4 Bedrooms | $282.5K | $432.5K | +53.1% |
| 5+ Bedrooms | $140K | $422.5K | +201.8% |
Summary: Cement City 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 35.7%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 53.1%, and 5+ bedroom homes increased by 201.8%.
Median Sold Price Compared To Nearby Cities
| Jerome | $237.4K | $265.2K | +11.7% |
| Somerset Township | $274.9K | $294.4K | +7.1% |
| Cement City | $275K | $289.9K | +5.4% |
| Cement City | $292.5K | $287K | -1.9% |
Housing Supply in Cement City, MI
How many homes are available in Cement City, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 7 | -56.3% |
Summary: The Cement City real estate market had 7 homes for sale in November 2024, a 56.3% 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 10 | 3 | -70.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cement City 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 66.7%, 3 bedroom homes decreased by 70%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 2 | -77.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cement City, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Cement City in November 2024, down by 77.8% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Cement City, MI
How long does it take to sell a home in Cement City, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 78 Days | 43 Days | -44.9% |
Summary: Homes in Cement City had an average of 43 days on market in Nov 2024, down by 44.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cement City has remained consistent over time.
Summary: During November 2024, 2 homes were sold in Cement City; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
