$3,741 Closing Credit*
$315,000
2,355 SqFt
4 Beds
•1 Full Bath, 1 Partial
Missy Koszegi, Listing Office: COLDWELL BANKER SCHMIDT CHEBOYGAN
Is Cheboygan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Cheboygan has remained a Seller's Market.
Key Takeaway
Cheboygan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheboygan, MI
How much do homes in Cheboygan, MI cost?
Median Sold Price
$229,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$48,000(+26.5%)
Key Takeaway
Homes in Cheboygan have sold for 26.5% more than they did a year ago.
Summary: The median home sold price in Cheboygan was $229,000 in November 2024, up 26.5% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $258K | $175K | -32.2% |
| 2 Bedrooms | $164.5K | $205K | +24.6% |
| 3 Bedrooms | $171K | $225K | +31.6% |
| 4 Bedrooms | $272K | $295K | +8.5% |
| 5+ Bedrooms | $330K | $301.9K | -8.5% |
Summary: Cheboygan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.2%, 2 bedroom homes increased by 24.6%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Cheboygan | $181K | $229K | +26.5% |
| Benton Township | $290K | $254.4K | -12.3% |
Housing Supply in Cheboygan, MI
How many homes are available in Cheboygan, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 81 | 0.0% |
Summary: The Cheboygan real estate market had 81 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 38 | 40 | +5.3% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Cheboygan housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 5.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheboygan, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Cheboygan in November 2024, up by 12.5% month-over-month. Of the 18 sold homes, 72% were sold under asking, 11% were sold at asking, and 17% were sold over asking.
Days on Market for Cheboygan, MI
How long does it take to sell a home in Cheboygan, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 150 Days | +782.4% |
Summary: Homes in Cheboygan had an average of 150 days on market in Nov 2024, up by 782.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Cheboygan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 18 homes were sold in Cheboygan; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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