Living in Cedar, MI
Cedar is a charming small town nestled in the heart of Michigan's Leelanau Peninsula. Known for its stunning natural landscapes and friendly community, Cedar offers a peaceful lifestyle with easy access to outdoor activities like hiking, fishing, and exploring nearby Lake Michigan. This quaint town features local shops, farms, and seasonal festivals that celebrate the region's rich agricultural heritage.
Current Market Conditions in Cedar, MI
The real estate market in Cedar, MI, is currently experiencing moderate growth with an increasing demand for homes, particularly among families and retirees looking for a peaceful retreat. The picturesque surroundings, combined with affordability compared to larger nearby cities, have made Cedar a hot spot for homebuyers looking for second homes or permanent residences.
However, the number of available listings has seen a decrease over the last few months, putting upward pressure on prices, as the demand continues to outpace supply. This trend reflects a broader interest in more rural living, especially in the aftermath of the pandemic as many seek more space and natural beauty.
Home Value Estimator For Cedar, MI
There are currently 1,786 real estate properties
in Cedar, MI,
with a median automated valuation model (AVM) price
of $513,948.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Cedar, MI, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Cedar, MI,
is $622,182.00, with the most expensive house
in Cedar, MI, topping out
at $3,422,218.00 and the cheapest home
in Cedar, MI,
clocking in at $22,650.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Cedar, MI!
Rent Prices
In Cedar, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Cedar, MI, is on
a rollercoaster ride. The
average rent price in Cedar, MI,
is $1,424.00. Indeed, when looking to rent in
Cedar, MI, you can expect to pay as little
as $900.00 or as much
as $2,540.00,
with the average rent median estimated to
be $1,390.00. The good news is that finding
an affordable and desirable property to rent in Cedar, MI
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
