Is Alto, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Alto is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Alto has remained a Seller's Market.

Key Takeaway

Alto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Alto, MI

How much do homes in Alto, MI cost?

Median Sold Price

$475,000

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,000(+5.6%)

Key Takeaway

Homes in Alto have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Alto was $475,000 in February 2024, up 5.6% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $250K$402K
+60.8%
3 $380K$420K
+10.5%
4 $455K$470K
+3.3%
5+ $610K$565K
-7.4%

Summary: Alto housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60.8%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 7.4%.

Median Sold Price Compared To Nearby Cities

Lowell Charter Township
+8.3%
Alto
+5.6%
Caledonia Township
+2.4%
Cascade Charter Township
-0.6%

Housing Supply in Alto, MI

How many homes are available in Alto, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
19190.0%

Summary: The Alto real estate market had 19 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 22
0.0%
3 33
0.0%
4 119
-18.2%
5+ 24
+100.0%

Summary: The Alto housing inventory by bedroom type for February 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 18.2%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Alto, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Alto in February 2024, up by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% 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

Feb 2023Feb 2024CHANGE
68 Days16 Days-76.0%

Summary: Homes in Alto had an average of 16 days on market in Feb 2024, down by 76% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Alto are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 6 homes were sold in Alto; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Alto, MI

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