Is Albion Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albion Township is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Albion Township has remained a Seller's Market.

Key Takeaway

Albion Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

-$17,000(-11.6%)

Key Takeaway

Homes in Albion Township have sold for 11.6% less than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $74K$79.9K
+8.0%
2 $108K$75.4K
-30.1%
3 $167K$140.5K
-15.9%
4 $164.5K$149.5K
-9.1%
5+ $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
+9.7%
Sheridan Township
+5.5%
Concord Township
-0.9%
Albion Township
-11.6%
Homer Township
-12.1%

Housing Supply in Albion Township, MI

How many homes are available in Albion Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3640+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 75
-28.6%
3 1618
+12.5%
4 912
+33.3%
5+ 45
+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 2024Feb 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albion Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
34 Days51 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Albion Township are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Albion Township, MI

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