Is Alto, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Alto was a Seller's Market.
Key Takeaway
Alto is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Alto, MI
How much do homes in Alto, MI cost?
Median Sold Price
$465,900
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
The sold price of homes in Alto has remained the same since last year.
Summary: The median home sold price in Alto was $465,900 in June 2024, up 0.5% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $400K | N/A |
| 2 Bedrooms | $308K | $316.2K | +2.7% |
| 3 Bedrooms | $395K | $399.9K | +1.2% |
| 4 Bedrooms | $475K | $465.4K | -2.0% |
| 5+ Bedrooms | $564.9K | $665K | +17.7% |
Summary: Alto housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 17.7%.
Median Sold Price Compared To Nearby Cities
| Lowell Charter Township | $351.7K | $391.2K | +11.2% |
| Cascade Charter Township | $509.7K | $560K | +9.9% |
| Caledonia Township | $381.9K | $395K | +3.4% |
| Alto | $463.7K | $465.9K | 0.5% |
| Bowne Township | $423K | $403.5K | -4.6% |
Housing Supply in Alto, MI
How many homes are available in Alto, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Summary: The Alto real estate market had 28 homes for sale in June 2024, the same as May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Alto housing inventory by bedroom type for June 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 50%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alto, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Alto in June 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Alto, MI
How long does it take to sell a home in Alto, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 9 Days | 6 Days | -33.3% |
Summary: Homes in Alto had an average of 6 days on market in Jun 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alto are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 3 homes were sold in Alto; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
