$5,500
0.64 Acres
Land
Lee Anne Scharffe, Listing Office: Berkshire Hathaway Homeservices Indian River
Is Cheboygan County, 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 County has remained a Seller's Market.
Key Takeaway
Cheboygan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheboygan County, MI
How much do homes in Cheboygan County, MI cost?
Median Sold Price
$259,900
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$39,900(+18.1%)
Key Takeaway
Homes in Cheboygan County have sold for 18.1% more than they did a year ago.
Summary: The median home sold price in Cheboygan County was $259,900 in November 2024, up 18.1% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $166.2K | -22.7% |
| 2 Bedrooms | $183K | $202.7K | +10.8% |
| 3 Bedrooms | $209K | $268.3K | +28.4% |
| 4 Bedrooms | $280.5K | $440K | +56.9% |
| 5+ Bedrooms | $330K | $360K | +9.1% |
Summary: Cheboygan County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.7%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 28.4%, 4 bedroom homes increased by 56.9%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Counties
| Cheboygan County | $220K | $259.9K | +18.1% |
| Presque Isle County | $189.9K | $189.5K | -0.2% |
Housing Supply in Cheboygan County, MI
How many homes are available in Cheboygan County, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 141 | 133 | -5.7% |
Summary: The Cheboygan County real estate market had 133 homes for sale in November 2024, a 5.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 8 | -33.3% |
| 2 Bedrooms | 27 | 22 | -18.5% |
| 3 Bedrooms | 65 | 66 | +1.5% |
| 4 Bedrooms | 27 | 28 | +3.7% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Cheboygan County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 28 | -12.5% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheboygan County, you may be able to get a good deal. 78.6% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Cheboygan County in November 2024, down by 12.5% month-over-month. Of the 28 sold homes, 79% were sold under asking, 7% were sold at asking, and 14% were sold over asking.
Days on Market for Cheboygan County, MI
How long does it take to sell a home in Cheboygan County, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 150 Days | +782.4% |
Summary: Homes in Cheboygan County 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 County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 28 homes were sold in Cheboygan County; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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