$3,537 Closing Credit*
$297,832
1,260 SqFt
2 Beds
•1 Full Bath
Jacqueline Werth, Listing Office: Forty Five North Real Estate
Is Alpena, 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, Alpena has remained a Seller's Market.
Key Takeaway
Alpena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alpena, MI
How much do homes in Alpena, MI cost?
Median Sold Price
$166,000
$102/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,100(+16.2%)
Key Takeaway
Homes in Alpena have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in Alpena was $166,000 in October 2024, up 16.2% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136.9K | $128K | -6.5% |
| 2 Bedrooms | $127.9K | $134.9K | +5.5% |
| 3 Bedrooms | $148K | $172K | +16.2% |
| 4 Bedrooms | $225K | $205K | -8.9% |
| 5+ Bedrooms | $148K | $219.7K | +48.4% |
Summary: Alpena housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 16.2%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes increased by 48.4%.
Median Sold Price Compared To Nearby Cities
| Alpena | $142.9K | $166K | +16.2% |
| Alpena Township | $142.9K | $166K | +16.2% |
Housing Supply in Alpena, MI
How many homes are available in Alpena, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 | 91 | +4.6% |
Summary: The Alpena real estate market had 91 homes for sale in October 2024, a 4.6% 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 | 22 | 27 | +22.7% |
| 3 Bedrooms | 50 | 52 | +4.0% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Alpena 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 22.7%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 28 | +40.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alpena, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Alpena in October 2024, up by 40.0% month-over-month. Of the 27 sold homes, 44% were sold under asking, 26% were sold at asking, and 30% were sold over asking.
Days on Market for Alpena, MI
How long does it take to sell a home in Alpena, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 8 Days | -79.8% |
Summary: Homes in Alpena had an average of 8 days on market in Oct 2024, down by 79.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alpena are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Alpena; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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