$137,000
80.00 Acres
Land
#50161250, AMY SCHIEDING, Listing Office: RE/MAX SUPERIORLAND
Is Alger County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Alger County was a Seller's Market.
Key Takeaway
Alger County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Alger County, MI
How much do homes in Alger County, MI cost?
Median Sold Price
$217,500
$134/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$5,000(+2.4%)
Key Takeaway
Homes in Alger County have sold for 2.4% more than they did a month ago.
Summary: The median home sold price in Alger County was $217,500 in October 2024, up 2.4% from last month, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $370K | - | N/A |
| 2 Bedrooms | $169.5K | - | N/A |
| 3 Bedrooms | $143K | $160K | +11.9% |
| 4 Bedrooms | $297K | $275K | -7.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Alger County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 11.9%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
| Luce County | $76.5K | $160K | +109.2% |
| Delta County | $164K | $183K | +11.6% |
| Alger County | $212.5K | $217.5K | +2.4% |
| Marquette County | $245K | $239.5K | -2.2% |
| Schoolcraft County | $290K | $215K | -25.9% |
Housing Supply in Alger County, MI
How many homes are available in Alger County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 42 | -14.3% |
Summary: The Alger County real estate market had 42 homes for sale in October 2024, a 14.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 25 | 21 | -16.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Alger County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 16%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 2 | -83.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alger County, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Alger County in October 2024, down by 83.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Alger County, MI
How long does it take to sell a home in Alger County, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 Days | 57 Days | -17.4% |
Summary: Homes in Alger County had an average of 57 days on market in Oct 2024, down by 17.4% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Alger County has remained consistent over time.
Summary: During October 2024, 2 homes were sold in Alger County; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.