Is Albion Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Albion Township has remained a Seller's Market.
Housing Prices in Albion Township, MI
How much do homes in Albion Township, MI cost?
Median Sold Price
$129,500
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Albion Township was $129,500 in February 2024, down 11.6% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $74K | $79.9K | +8.0% |
2 Bedrooms | $108K | $75.4K | -30.1% |
3 Bedrooms | $167K | $140.5K | -15.9% |
4 Bedrooms | $164.5K | $149.5K | -9.1% |
5+ Bedrooms | $307.5K | $160K | -48.0% |
Summary: Albion Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 30.1%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 48%.
Median Sold Price Compared To Nearby Cities
Albion | $118K | $129.5K | +9.7% |
Sheridan Township | $172.5K | $182K | +5.5% |
Concord Township | $225K | $222.9K | -0.9% |
Albion Township | $146.5K | $129.5K | -11.6% |
Homer Township | $165K | $145K | -12.1% |
Housing Supply in Albion Township, MI
How many homes are available in Albion Township, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
36 | 40 | +11.1% |
Summary: The Albion Township real estate market had 40 homes for sale in February 2024, a 11.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 16 | 18 | +12.5% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Albion Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Albion Township in February 2024, down by 11.1% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Albion Township, MI
How long does it take to sell a home in Albion Township, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
34 Days | 51 Days | +48.1% |
Summary: Homes in Albion Township had an average of 51 days on market in Feb 2024, up by 48.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 8 homes were sold in Albion Township; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.