Is Alto, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Alto was a Seller's Market.
Key Takeaway
Alto is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Alto, MI
How much do homes in Alto, MI cost?
Median Sold Price
$465,450
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 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 $465,450 in March 2024, up 0.1% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $400K | N/A |
| 2 Bedrooms | $279K | $356K | +27.6% |
| 3 Bedrooms | $397.5K | $410K | +3.1% |
| 4 Bedrooms | $472.5K | $467.5K | -1.1% |
| 5+ Bedrooms | $565K | $575K | +1.8% |
Summary: Alto housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Lowell Charter Township | $354.4K | $400.9K | +13.1% |
| Bowne Township | $398.7K | $416.5K | +4.5% |
| Caledonia Township | $390K | $399.5K | +2.5% |
| Alto | $465K | $465.4K | 0.1% |
| Cascade Charter Township | $535K | $520K | -2.8% |
Housing Supply in Alto, MI
How many homes are available in Alto, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Alto real estate market had 19 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Alto 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Alto, 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 Alto in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 85 Days | +50.6% |
Summary: Homes in Alto had an average of 85 days on market in Mar 2024, up by 50.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Alto are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in Alto; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.