Is Cedar, MI 49621 a buyer’s or seller’s market?
Cedar is a buyer’s market. With about 6.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 18% of U.S. ZIP codes, and #478 of 510 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Cedar housing market right now
In the three months ending August 31, 2026, 12% of homes in Cedar, MI 49621 sold above their list price, the typical home went under contract in 49 days and there were 6.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 17 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (10% then), homes sold faster (77 days then) and the median sale price fell 5% to $399,827. Overall, Cedar is more competitive than a year ago, so tougher for buyers.
Within Leelanau County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Cedar ranks #478 of 510 MI ZIP codes with enough sales (score 24 out of 100).
Nearby, Glen Arbor 49636 (33% sold over asking) and Suttons Bay 49682 (32% sold over asking) are even more competitive.
Run the numbers for 49621
Nearby markets
Empire 49630Balanced $336 /sq ftGlen Arbor 49636Balanced $1,296 /sq ftLake Leelanau 49653Seller’s market $386 /sq ftLeland 49654Balanced $674 /sq ft Browse all markets →Towns like Cedar nearby
Find towns like Cedar in other states →Where Cedar is
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Questions about Cedar real estate
Is Cedar a buyer’s or seller’s market?
A buyer’s market: there were 6.2 months of supply in Cedar, MI 49621 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cedar?
The typical home went under contract in 49 days in the latest three months.
Do homes in Cedar sell over asking?
12% of homes sold above their original list price, and the typical sale closed at 97.1% of the list price.
What are property taxes in Cedar?
About 0.68% of a home’s value a year in Leelanau County, or roughly $2,720 on a $400,000 home.
What is the median home price in Cedar?
The median sale price was $399,827 in the three months ending August 31, 2026, about $278 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology