Is Alcona County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Alcona County has remained a Seller's Market.
Key Takeaway
Alcona County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alcona County, MI
How much do homes in Alcona County, MI cost?
Median Sold Price
$175,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Alcona County have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Alcona County was $175,000 in May 2024, up 12.3% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73.2K | $93K | +27.0% |
| 2 Bedrooms | $155.9K | $145K | -7.0% |
| 3 Bedrooms | $170.2K | $192.4K | +13.0% |
| 4 Bedrooms | $185K | $184K | -0.5% |
| 5+ Bedrooms | $83K | $200K | +141.0% |
Summary: Alcona County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 141%.
Median Sold Price Compared To Nearby Counties
| Iosco County | $145K | $169K | +16.6% |
| Alpena County | $144K | $163.9K | +13.9% |
| Alcona County | $155.9K | $175K | +12.3% |
| Oscoda County | $130K | $113K | -13.1% |
Housing Supply in Alcona County, MI
How many homes are available in Alcona County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 68 | +23.6% |
Summary: The Alcona County real estate market had 68 homes for sale in May 2024, a 23.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 21 | 29 | +38.1% |
| 3 Bedrooms | 21 | 25 | +19.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Alcona County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 38.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 14 | +180.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alcona County, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Alcona County in May 2024, up by 180.0% month-over-month. Of the 14 sold homes, 21% were sold under asking, 7% were sold at asking, and 71% were sold over asking.
Days on Market for Alcona County, MI
How long does it take to sell a home in Alcona County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 75 Days | +9.9% |
Summary: Homes in Alcona County had an average of 75 days on market in May 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Alcona County has remained consistent over time.
Summary: During May 2024, 14 homes were sold in Alcona County; 14% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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