$3,266 Closing Credit*
$275,000
1,280 SqFt
2 Beds
•2 Full Baths
Patrick Czech, Listing Office: Century 21 Curran & Oberski
Is Allen Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Allen Park has remained a Seller's Market.
Key Takeaway
Allen Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allen Park, MI
How much do homes in Allen Park, MI cost?
Median Sold Price
$215,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,333(+9.3%)
Key Takeaway
Homes in Allen Park have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Allen Park was $215,000 in October 2024, up 9.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60.7K | $80K | +31.7% |
| 2 Bedrooms | $152K | $150K | -1.3% |
| 3 Bedrooms | $200K | $215.1K | +7.6% |
| 4 Bedrooms | $237K | $250K | +5.5% |
| 5+ Bedrooms | $288.7K | $300K | +3.9% |
Summary: Allen Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.7%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Dearborn | $229.9K | $260K | +13.0% |
| Allen Park | $196.6K | $215K | +9.3% |
| Southgate | $179.1K | $195.7K | +9.3% |
| Lincoln Park | $140K | $149.9K | +7.1% |
| Melvindale | $140K | $145K | +3.6% |
Housing Supply in Allen Park, MI
How many homes are available in Allen Park, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 | 85 | +10.4% |
Summary: The Allen Park real estate market had 85 homes for sale in October 2024, a 10.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 61 | 66 | +8.2% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Allen Park 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 increased by 60%, 3 bedroom homes increased by 8.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 24 | -20.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allen Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Allen Park in October 2024, down by 20.0% month-over-month. Of the 24 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for Allen Park, MI
How long does it take to sell a home in Allen Park, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 8 Days | 37 Days | +348.9% |
Summary: Homes in Allen Park had an average of 37 days on market in Oct 2024, up by 348.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Allen Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in Allen Park; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
