$85,000
1.31 Acres
Land
Kirt Stevens, Listing Office: Keller Williams GR North
Is Algoma Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Algoma Township has remained a Seller's Market.
Key Takeaway
Algoma Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Algoma Township, MI
How much do homes in Algoma Township, MI cost?
Median Sold Price
$430,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$30,000(+7.5%)
Key Takeaway
Homes in Algoma Township have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Algoma Township was $430,000 in November 2024, up 7.5% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $269K | $310.5K | +15.4% |
| 3 Bedrooms | $355K | $355K | 0.0% |
| 4 Bedrooms | $435.7K | $467K | +7.2% |
| 5+ Bedrooms | $580K | $547.5K | -5.6% |
Summary: Algoma Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Cedar Springs | $285K | $317.5K | +11.4% |
| Courtland Township | $449.3K | $495K | +10.2% |
| Solon Township | $290K | $317.7K | +9.6% |
| Algoma Township | $400K | $430K | +7.5% |
| Rockford | $425K | $435.5K | +2.5% |
Housing Supply in Algoma Township, MI
How many homes are available in Algoma Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Summary: The Algoma Township real estate market had 30 homes for sale in November 2024, a 3.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 1 | -75.0% |
| 3 Bedrooms | 11 | 13 | +18.2% |
| 4 Bedrooms | 12 | 7 | -41.7% |
| 5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The Algoma Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 75%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Algoma Township, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Algoma Township in November 2024, down by 10.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 56% were sold at asking, and 0% were sold over asking.
Days on Market for Algoma Township, MI
How long does it take to sell a home in Algoma Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 38 Days | +321.5% |
Summary: Homes in Algoma Township had an average of 38 days on market in Nov 2024, up by 321.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Algoma Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Algoma Township; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
