Is Alger, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Alger has remained a Seller's Market.
Key Takeaway
Alger is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alger, MI
How much do homes in Alger, MI cost?
Median Sold Price
$135,000
$121/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Alger have sold for 103% more than they did a month ago.
Summary: The median home sold price in Alger was $135,000 in April 2024, up 103% from last month, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $66.5K | $80K | +20.3% |
| 3 Bedrooms | - | $135K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Alger housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.3%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Alger | $66.5K | $135K | +103.0% |
| Horton Township | $177K | $315.5K | +78.2% |
Housing Supply in Alger, MI
How many homes are available in Alger, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The Alger real estate market had 14 homes for sale in April 2024, a 27.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Alger housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alger, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Alger in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Alger, MI
How long does it take to sell a home in Alger, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 78 Days | +93.2% |
Summary: Homes in Alger had an average of 78 days on market in Apr 2024, up by 93.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Alger are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in Alger; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.