Is Albion Township, 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 Township has remained a Seller's Market.
Key Takeaway
Albion Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albion Township, MI
How much do homes in Albion Township, 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 Township have sold for 8% less than they did a year ago.
Summary: The median home sold price in Albion Township was $133,450 in April 2024, down 8% 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 | $74K | $79.9K | +8.0% |
| 2 Bedrooms | $110K | $82.4K | -25.0% |
| 3 Bedrooms | $167K | $135.5K | -18.9% |
| 4 Bedrooms | $164.5K | $139K | -15.5% |
| 5+ Bedrooms | $120K | $205K | +70.8% |
Summary: Albion Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 18.9%, 4 bedroom homes decreased by 15.5%, and 5+ bedroom homes increased by 70.8%.
Median Sold Price Compared To Nearby Cities
| Albion | $120K | $133.4K | +11.2% |
| Concord Township | $214.9K | $230K | +7.0% |
| Sheridan Township | $170K | $181K | +6.5% |
| Albion Township | $145K | $133.4K | -8.0% |
Housing Supply in Albion Township, MI
How many homes are available in Albion Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 46 | 43 | -6.5% |
Summary: The Albion Township 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 Township 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 Township, 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 Township 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 Township, MI
How long does it take to sell a home in Albion Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 49 Days | +103.3% |
Summary: Homes in Albion Township 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 Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Albion Township; 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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