Is Alpena, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Alpena has remained a Seller's Market.
Key Takeaway
Alpena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alpena, MI
How much do homes in Alpena, MI cost?
Median Sold Price
$163,875
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Alpena have sold for 20.1% more than they did a year ago.
Summary: The median home sold price in Alpena was $163,875 in June 2024, up 20.1% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83.7K | $175K | +109.0% |
| 2 Bedrooms | $102.7K | $142.5K | +38.7% |
| 3 Bedrooms | $142K | $161.3K | +13.6% |
| 4 Bedrooms | $147.4K | $228K | +54.6% |
| 5+ Bedrooms | $211.5K | $182.2K | -13.9% |
Summary: Alpena housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 109%, 2 bedroom homes increased by 38.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 54.6%, and 5+ bedroom homes decreased by 13.9%.
Median Sold Price Compared To Nearby Cities
| Alpena | $136.5K | $163.8K | +20.1% |
| Alpena Township | $144.9K | $163.8K | +13.1% |
Housing Supply in Alpena, MI
How many homes are available in Alpena, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 78 | 79 | +1.3% |
Summary: The Alpena real estate market had 79 homes for sale in June 2024, a 1.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 20 | 19 | -5.0% |
| 3 Bedrooms | 40 | 39 | -2.5% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Alpena housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 25 | 15 | -40.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alpena, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Alpena in June 2024, down by 40.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and 33% were sold over asking.
Days on Market for Alpena, MI
We’re sorry, we don't have information for this market at the moment
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