Is Allegan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Allegan has remained a Seller's Market.
Key Takeaway
Allegan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allegan, MI
How much do homes in Allegan, MI cost?
Median Sold Price
$250,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Allegan have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Allegan was $250,000 in March 2024, up 11.1% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.7K | $167K | +27.7% |
| 2 Bedrooms | $205K | $230K | +12.2% |
| 3 Bedrooms | $222.5K | $240K | +7.9% |
| 4 Bedrooms | $261K | $299.5K | +14.8% |
| 5+ Bedrooms | $381.1K | $250K | -34.4% |
Summary: Allegan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.7%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 34.4%.
Median Sold Price Compared To Nearby Cities
| Allegan | $225K | $250K | +11.1% |
| Allegan Township | $250.6K | $250K | -0.3% |
Housing Supply in Allegan, MI
How many homes are available in Allegan, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 44 | -15.4% |
Summary: The Allegan real estate market had 44 homes for sale in March 2024, a 15.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Allegan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 11 | -45.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allegan, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Allegan in March 2024, down by 45.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Allegan, MI
How long does it take to sell a home in Allegan, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 21 Days | -72.1% |
Summary: Homes in Allegan had an average of 21 days on market in Mar 2024, down by 72.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Allegan are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Allegan; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.