$2,007 Closing Credit*
$169,000
1,496 SqFt
3 Beds
•2 Full Baths
Ethan Vincent, Listing Office: Vincent Realty Group Inc.
Is Albion, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Albion has remained a Seller's Market.
Key Takeaway
Albion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albion, MI
How much do homes in Albion, MI cost?
Median Sold Price
$135,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$13,500(+11.1%)
Key Takeaway
Homes in Albion have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Albion was $135,000 in August 2024, up 11.1% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $80.2K | 0.4% |
| 2 Bedrooms | $90.9K | $120.5K | +32.6% |
| 3 Bedrooms | $140K | $142.5K | +1.8% |
| 4 Bedrooms | $158.6K | $144.5K | -8.9% |
| 5+ Bedrooms | $228K | $140.7K | -38.3% |
Summary: Albion housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 32.6%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 38.3%.
Median Sold Price Compared To Nearby Cities
| Albion | $121.5K | $135K | +11.1% |
| Albion Township | $122K | $135K | +10.7% |
| Sheridan Township | $195K | $175K | -10.3% |
Housing Supply in Albion, MI
How many homes are available in Albion, MI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 50 | 48 | -4.0% |
Summary: The Albion real estate market had 48 homes for sale in August 2024, a 4.0% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 20 | 27 | +35.0% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Albion housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 35%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Albion, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Albion in August 2024, down by 40.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for Albion, MI
How long does it take to sell a home in Albion, MI?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 49 Days | 34 Days | -30.9% |
Summary: Homes in Albion had an average of 34 days on market in Aug 2024, down by 30.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albion are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 9 homes were sold in Albion; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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