Is Alpena, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Alpena has remained a Seller's Market.
Key Takeaway
Alpena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alpena, MI
How much do homes in Alpena, MI cost?
Median Sold Price
$165,000
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Alpena have sold for 22.2% more than they did a year ago.
Summary: The median home sold price in Alpena was $165,000 in May 2024, up 22.2% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67.5K | $171.5K | +154.1% |
| 2 Bedrooms | $97.2K | $140K | +44.0% |
| 3 Bedrooms | $138K | $161.3K | +16.9% |
| 4 Bedrooms | $160.4K | $250.2K | +56.0% |
| 5+ Bedrooms | $211.5K | $163K | -22.9% |
Summary: Alpena housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 154.1%, 2 bedroom homes increased by 44%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 56%, and 5+ bedroom homes decreased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Alpena | $135K | $165K | +22.2% |
| Alpena Township | $142K | $165K | +16.2% |
Housing Supply in Alpena, MI
How many homes are available in Alpena, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 65 | 81 | +24.6% |
Summary: The Alpena real estate market had 81 homes for sale in May 2024, a 24.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 14 | 21 | +50.0% |
| 3 Bedrooms | 31 | 41 | +32.3% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Alpena housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 32.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 23 | +43.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alpena, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Alpena in May 2024, up by 43.8% month-over-month. Of the 23 sold homes, 43% were sold under asking, 17% were sold at asking, and 39% were sold over asking.
Days on Market for Alpena, MI
How long does it take to sell a home in Alpena, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 7 Days | -83.7% |
Summary: Homes in Alpena had an average of 7 days on market in May 2024, down by 83.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alpena are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in Alpena; 4% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved