Is Alpena County, 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 County has remained a Seller's Market.
Key Takeaway
Alpena County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alpena County, MI
How much do homes in Alpena County, MI cost?
Median Sold Price
$163,958
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Alpena County have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Alpena County was $163,958 in May 2024, up 13.9% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.2K | $171.5K | +180.0% |
| 2 Bedrooms | $118K | $134.9K | +14.3% |
| 3 Bedrooms | $145K | $161.3K | +11.3% |
| 4 Bedrooms | $195K | $247.2K | +26.8% |
| 5+ Bedrooms | $250K | $174K | -30.4% |
Summary: Alpena County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 180%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes decreased by 30.4%.
Median Sold Price Compared To Nearby Counties
| Presque Isle County | $169.5K | $194.2K | +14.6% |
| Alpena County | $144K | $163.9K | +13.9% |
| Alcona County | $155.9K | $175K | +12.3% |
| Montmorency County | $145K | $159.9K | +10.3% |
Housing Supply in Alpena County, MI
How many homes are available in Alpena County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 85 | 100 | +17.6% |
Summary: The Alpena County real estate market had 100 homes for sale in May 2024, a 17.6% 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 | 17 | 26 | +52.9% |
| 3 Bedrooms | 45 | 52 | +15.6% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Alpena County 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 52.9%, 3 bedroom homes increased by 15.6%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alpena County, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Alpena County in May 2024, up by 22.7% month-over-month. Of the 27 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% were sold over asking.
Days on Market for Alpena County, MI
How long does it take to sell a home in Alpena County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 17 Days | -60.5% |
Summary: Homes in Alpena County had an average of 17 days on market in May 2024, down by 60.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were 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 County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Alpena County; 7% 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.
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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