Is Alpena Township, 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 Township has remained a Seller's Market.
Housing Prices in Alpena Township, MI
How much do homes in Alpena Township, MI cost?
Median Sold Price
$165,000
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Alpena Township was $165,000 in May 2024, up 16.2% 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 | $102.2K | $171.5K | +67.8% |
2 Bedrooms | $123.5K | $140K | +13.4% |
3 Bedrooms | $145K | $161.3K | +11.3% |
4 Bedrooms | $191.6K | $250.2K | +30.6% |
5+ Bedrooms | $120K | $163K | +35.8% |
Summary: Alpena Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.8%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes increased by 35.8%.
Median Sold Price Compared To Nearby Cities
Alpena | $135K | $165K | +22.2% |
Alpena Township | $142K | $165K | +16.2% |
Wilson Township | $194K | $85K | -56.2% |
Housing Supply in Alpena Township, MI
How many homes are available in Alpena Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 79 | +25.4% |
Summary: The Alpena Township real estate market had 79 homes for sale in May 2024, a 25.4% 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 | 30 | 40 | +33.3% |
4 Bedrooms | 15 | 13 | -13.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Alpena Township 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 33.3%, 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
Summary: A total of 23 homes were sold or pending in Alpena Township 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 Township, MI
How long does it take to sell a home in Alpena Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 7 Days | -83.7% |
Summary: Homes in Alpena Township 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
Summary: During May 2024, 23 homes were sold in Alpena Township; 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.