Is Albion, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Albion has remained a Seller's Market.
Key Takeaway
Albion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albion, MI
How much do homes in Albion, MI cost?
Median Sold Price
$133,450
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Albion have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Albion was $133,450 in April 2024, up 11.2% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $40K | $79.9K | +99.8% |
| 2 Bedrooms | $96.9K | $82.4K | -15.0% |
| 3 Bedrooms | $138K | $135.5K | -1.8% |
| 4 Bedrooms | $157K | $139K | -11.5% |
| 5+ Bedrooms | $210K | $205K | -2.4% |
Summary: Albion housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 99.8%, 2 bedroom homes decreased by 15%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Albion | $120K | $133.4K | +11.2% |
| Sheridan Township | $170K | $181K | +6.5% |
| Albion Township | $145K | $133.4K | -8.0% |
Housing Supply in Albion, MI
How many homes are available in Albion, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 46 | 43 | -6.5% |
Summary: The Albion real estate market had 43 homes for sale in April 2024, a 6.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Albion housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albion, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Albion in April 2024, down by 7.7% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% were sold over asking.
Days on Market for Albion, MI
How long does it take to sell a home in Albion, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 49 Days | +103.3% |
Summary: Homes in Albion had an average of 49 days on market in Apr 2024, up by 103.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albion are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Albion; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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