$3,432 Closing Credit*
$289,000
1,656 SqFt
3 Beds
•2 Full Baths, 1 Partial
Chantel T Hines, Listing Office: Keller Williams Lakeside
Is Algonac, 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, Algonac was a Neutral Market.
Key Takeaway
Algonac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Algonac, MI
How much do homes in Algonac, MI cost?
Median Sold Price
$266,500
$187/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$65,500(-19.7%)
Key Takeaway
Homes in Algonac have sold for 19.7% less than they did a month ago.
Summary: The median home sold price in Algonac was $266,500 in October 2024, down 19.7% from last month, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $404.5K | $312.7K | -22.7% |
| 3 Bedrooms | $175K | $240K | +37.1% |
| 4 Bedrooms | $380K | $400K | +5.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Algonac 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 decreased by 22.7%, 3 bedroom homes increased by 37.1%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes did not change.
Housing Supply in Algonac, MI
How many homes are available in Algonac, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 30 | +15.4% |
Summary: The Algonac real estate market had 30 homes for sale in October 2024, a 15.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Algonac housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 41.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Algonac, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Algonac in October 2024, up by 100.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% were sold over asking.
Days on Market for Algonac, MI
How long does it take to sell a home in Algonac, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 Days | 33 Days | +506.8% |
Summary: Homes in Algonac had an average of 33 days on market in Oct 2024, up by 506.8% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Algonac are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Algonac; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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.