Is Albion Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Albion Township was a Seller's Market.
Key Takeaway
Albion Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Albion Township, MI
How much do homes in Albion Township, MI cost?
Median Sold Price
$135,250
$99/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Albion Township have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Albion Township was $135,250 in May 2024, up 9.1% from last year, and the median price per square foot was $99.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $80.2K | 0.4% |
| 2 Bedrooms | $108K | $113.3K | +4.9% |
| 3 Bedrooms | $144.5K | $135.5K | -6.2% |
| 4 Bedrooms | $159K | $139K | -12.6% |
| 5+ Bedrooms | $120K | $205K | +70.8% |
Summary: Albion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes increased by 70.8%.
Median Sold Price Compared To Nearby Cities
| Albion | $123.6K | $135.2K | +9.4% |
| Albion Township | $124K | $135.2K | +9.1% |
| Sheridan Township | $175K | $180K | +2.9% |
| Homer Township | $145K | $147.5K | +1.7% |
| Concord Township | $224.5K | $222.9K | -0.7% |
Housing Supply in Albion Township, MI
How many homes are available in Albion Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 49 | +19.5% |
Summary: The Albion Township real estate market had 49 homes for sale in May 2024, a 19.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 19 | 22 | +15.8% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Albion Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 15.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 7 | -46.2% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albion Township, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Albion Township in May 2024, down by 46.2% month-over-month. Of the 7 sold homes, 0% were sold under asking, 57% were sold at asking, and 43% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 24 Days | -42.5% |
Summary: Homes in Albion Township had an average of 24 days on market in May 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 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 May 2024, 7 homes were sold in Albion Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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