Cheboygan County Home Prices Drop 11.8% in April 2024

Cheboygan County, Michigan's median home list price dropped 11.8% to $304,250 in April 2024, marking a 3.1% decrease from April 2023. The median home size stands at 1,810 square feet with a price per square foot of $189.

author-image
Bijay Laxmi
New Update
Cheboygan County Home Prices Drop 11.8% in April 2024

Cheboygan County Home Prices Drop 11.8% in April 2024

In April 2024, the median home list price in Cheboygan County, Michigan experienced a significant 11.8% drop to $304,250, marking a 3.1% decrease compared to April 2023. The median home size in the county stands at 1,810 square feet, with a price per square foot of $189.

Why this matters: The decline in home prices in Cheboygan County may have broader implications for the local economy, as a softening housing market can affect consumer spending and confidence. Moreover, this trend may be indicative of a larger shift in the regional or national housing market, warranting attention from policymakers and industry experts.

The real estate market in Cheboygan County has been facing challenges, with home prices showing a downward trend over the past year. The 11.8% drop in median list price from the previous month and the 3.1% decrease compared to the same period in 2023 indicate a softening market.

Despite the price declines, the median home size in Cheboygan County remains relatively spacious at 1,810 square feet. This suggests that buyers can potentially find more value for their money in terms of living space. However, the price per square foot of $189 is still a factor to consider when evaluating the overall affordability of homes in the area.

The current state of the Cheboygan County housing market may present opportunities for potential buyers looking for more affordable options. However, it is essential for both buyers and sellers to closely monitor market trends and work with local real estate professionals to make informed decisions based on their specific needs and circumstances.

As of April 2024, the median home list price in Cheboygan County stands at $304,250, reflecting an 11.8% decrease from the previous month and a 3.1% drop compared to April 2023. The median home size of 1,810 square feet and a price per square foot of $189 provide additional context for understanding the current market dynamics in the county.

Key Takeaways

  • Median home list price in Cheboygan County, MI drops 11.8% to $304,250.
  • Price per square foot stands at $189, with a median home size of 1,810 sqft.
  • Home prices show a 3.1% decrease compared to April 2023.
  • Softening housing market may impact local economy and consumer confidence.
  • Buyers may find more affordable options, but must monitor market trends closely.