Is Algonac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Algonac was a Buyer's Market.
Key Takeaway
Algonac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Algonac, MI
How much do homes in Algonac, MI cost?
Median Sold Price
$179,000
$135/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Algonac have sold for 15.5% more than they did a month ago.
Summary: The median home sold price in Algonac was $179,000 in March 2024, up 15.5% from last month, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $314.9K | N/A |
| 3 Bedrooms | - | $146.5K | N/A |
| 4 Bedrooms | $155K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Algonac housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Algonac, MI
How many homes are available in Algonac, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Summary: The Algonac real estate market had 15 homes for sale in March 2024, a 36.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Algonac housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Algonac, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Algonac in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Algonac, MI
How long does it take to sell a home in Algonac, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 175 Days | 56 Days | -67.6% |
Summary: Homes in Algonac had an average of 56 days on market in Mar 2024, down by 67.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Algonac are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Algonac; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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.