$1,983 Closing Credit*
$167,000
1,499 SqFt
2 Beds
•1 Full Bath, 1 Partial
#50300806, Alison Smith, 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 October 2023
At the same time last year, Algoma was a Seller's Market.
Key Takeaway
Algoma is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Algoma, WI
How much do homes in Algoma, WI cost?
Median Sold Price
$199,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$20,900(-9.5%)
Key Takeaway
Homes in Algoma have sold for 9.5% less than they did a year ago.
Summary: The median home sold price in Algoma was $199,000 in October 2024, down 9.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $219.5K | +18.6% |
| 2 Bedrooms | $315.8K | $165.5K | -47.6% |
| 3 Bedrooms | $200K | $222.5K | +11.3% |
| 4 Bedrooms | $307K | $202.5K | -34.0% |
| 5+ Bedrooms | $70K | - | N/A |
Summary: Algoma housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.6%, 2 bedroom homes decreased by 47.6%, 3 bedroom homes increased by 11.3%, 4 bedroom homes decreased by 34%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Summary: The Algoma real estate market had 16 homes for sale in October 2024, a 23.1% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Algoma 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 66.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Algoma, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Algoma in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Algoma, WI
We’re sorry, we don't have information for this market at the moment
