Is Algoma 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, Algoma Township has remained a Seller's Market.
Housing Prices in Algoma Township, MI
How much do homes in Algoma Township, MI cost?
Median Sold Price
$410,000
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Algoma Township was $410,000 in April 2024, up 2.5% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $334.9K | $330K | -1.5% |
2 Bedrooms | $344.5K | $280K | -18.7% |
3 Bedrooms | $352K | $382.2K | +8.6% |
4 Bedrooms | $416.2K | $427.4K | +2.7% |
5+ Bedrooms | $490K | $575K | +17.3% |
Summary: Algoma Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 18.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Cities
Rockford | $389.2K | $422K | +8.4% |
Courtland Township | $415K | $448.7K | +8.1% |
Cedar Springs | $275K | $296K | +7.6% |
Algoma Township | $399.9K | $410K | +2.5% |
Solon Township | $300K | $302K | +0.7% |
Housing Supply in Algoma Township, MI
How many homes are available in Algoma Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 30 | +25.0% |
Summary: The Algoma Township real estate market had 30 homes for sale in April 2024, a 25.0% increase 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 | 3 | 5 | +66.7% |
3 Bedrooms | 8 | 12 | +50.0% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Algoma 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 66.7%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Algoma Township in April 2024, up by 83.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.
Days on Market for Algoma Township, MI
How long does it take to sell a home in Algoma Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 19 Days | +211.3% |
Summary: Homes in Algoma Township had an average of 19 days on market in Apr 2024, up by 211.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Algoma Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.