$49,500
0.35 Acres
Land
#50301157, Susan Karner, Listing Office: Coldwell Banker Real Estate Group
Is Algoma, WI 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 has remained a Seller's Market.
Key Takeaway
Algoma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Algoma, WI
How much do homes in Algoma, WI cost?
Median Sold Price
$235,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$16,000(+7.3%)
Key Takeaway
Homes in Algoma have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Algoma was $235,000 in November 2024, up 7.3% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $219.5K | +18.6% |
| 2 Bedrooms | $225K | $164.7K | -26.8% |
| 3 Bedrooms | $188K | $278.5K | +48.1% |
| 4 Bedrooms | $300K | $180K | -40.0% |
| 5+ Bedrooms | $70K | - | N/A |
Summary: Algoma housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.6%, 2 bedroom homes decreased by 26.8%, 3 bedroom homes increased by 48.1%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes did not change.
Housing Supply in Algoma, WI
How many homes are available in Algoma, WI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Algoma real estate market had 14 homes for sale in November 2024, a 6.7% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Algoma 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
2 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 Algoma, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Algoma in November 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Algoma, WI
We’re sorry, we don't have information for this market at the moment
