Is Allegan, 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, Allegan has remained a Seller's Market.
Housing Prices in Allegan, MI
How much do homes in Allegan, MI cost?
Median Sold Price
$255,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Allegan was $255,000 in April 2024, up 15.9% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130.7K | $167K | +27.7% |
2 Bedrooms | $202K | $243K | +20.3% |
3 Bedrooms | $220K | $250K | +13.6% |
4 Bedrooms | $261K | $300K | +14.9% |
5+ Bedrooms | $403K | $250K | -38.0% |
Summary: Allegan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.7%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes decreased by 38%.
Median Sold Price Compared To Nearby Cities
Allegan | $220K | $255K | +15.9% |
Allegan Township | $250K | $255K | +2.0% |
Housing Supply in Allegan, MI
How many homes are available in Allegan, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 52 | +2.0% |
Summary: The Allegan real estate market had 52 homes for sale in April 2024, a 2.0% 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 | 5 | 8 | +60.0% |
3 Bedrooms | 28 | 26 | -7.1% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Allegan 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 60%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 19 | +58.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Allegan in April 2024, up by 58.3% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for Allegan, MI
How long does it take to sell a home in Allegan, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 32 Days | +30.8% |
Summary: Homes in Allegan had an average of 32 days on market in Apr 2024, up by 30.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Allegan; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.