$105,000
4.37 Acres
Land
Justin Goodenough, Listing Office: Bellabay Realty LLC
Is Allegan, 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, Allegan has remained a Seller's Market.
Key Takeaway
Allegan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allegan, MI
How much do homes in Allegan, MI cost?
Median Sold Price
$250,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+2.0%)
Key Takeaway
Homes in Allegan have sold for 2% more than they did a year ago.
Summary: The median home sold price in Allegan was $250,000 in November 2024, up 2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167K | $266K | +59.3% |
| 2 Bedrooms | $226K | $230K | +1.8% |
| 3 Bedrooms | $237.5K | $239.9K | +1.0% |
| 4 Bedrooms | $299K | $326K | +9.0% |
| 5+ Bedrooms | $215K | $345.5K | +60.7% |
Summary: Allegan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 60.7%.
Median Sold Price Compared To Nearby Cities
| Allegan | $245K | $250K | +2.0% |
| Allegan Township | $245K | $250K | +2.0% |
Housing Supply in Allegan, MI
How many homes are available in Allegan, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 64 | 55 | -14.1% |
Summary: The Allegan real estate market had 55 homes for sale in November 2024, a 14.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 28 | 21 | -25.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Allegan 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 8.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allegan, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 12 homes were sold or pending in Allegan in November 2024, down by 25.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 42% were sold at asking, and 25% were sold over asking.
Days on Market for Allegan, MI
How long does it take to sell a home in Allegan, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 30 Days | +137.2% |
Summary: Homes in Allegan had an average of 30 days on market in Nov 2024, up by 137.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Allegan are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in Allegan; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.