$10,000 Closing Credit*
$2,500,000
4,000 SqFt
4 Beds
•4 Full Baths, 1 Partial
Michael Bedells, Listing Office: Gaslight Group Properties
Is Cheboygan County, 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, 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
$249,900
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,983(+11.6%)
Key Takeaway
Homes in Cheboygan County have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Cheboygan County was $249,900 in October 2024, up 11.6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $157.5K | -26.7% |
| 2 Bedrooms | $176K | $205K | +16.5% |
| 3 Bedrooms | $212.5K | $248.5K | +16.9% |
| 4 Bedrooms | $284.5K | $409.3K | +43.9% |
| 5+ Bedrooms | $290K | $380K | +31.0% |
Summary: Cheboygan County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.7%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 43.9%, and 5+ bedroom homes increased by 31%.
Median Sold Price Compared To Nearby Counties
| Cheboygan County | $223.9K | $249.9K | +11.6% |
| Presque Isle County | $180K | $195K | +8.3% |
Housing Supply in Cheboygan County, MI
How many homes are available in Cheboygan County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 157 | 156 | -0.6% |
Summary: The Cheboygan County real estate market had 156 homes for sale in October 2024, a 0.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 31 | 29 | -6.5% |
| 3 Bedrooms | 71 | 74 | +4.2% |
| 4 Bedrooms | 33 | 29 | -12.1% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Cheboygan County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 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. 65.6% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Cheboygan County in October 2024, up by 14.3% month-over-month. Of the 32 sold homes, 66% were sold under asking, 13% were sold at asking, and 22% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 2 Days | 26 Days | +960.0% |
Summary: Homes in Cheboygan County had an average of 26 days on market in Oct 2024, up by 960% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheboygan County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 32 homes were sold in Cheboygan County; 6% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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