Is Allegan 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, Allegan County has remained a Seller's Market.
Key Takeaway
Allegan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allegan County, MI
How much do homes in Allegan County, MI cost?
Median Sold Price
$300,105
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Allegan County have sold for 6% more than they did a year ago.
Summary: The median home sold price in Allegan County was $300,105 in May 2024, up 6% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $193.5K | $212.5K | +9.8% |
| 2 Bedrooms | $250K | $259K | +3.6% |
| 3 Bedrooms | $255K | $280.3K | +9.9% |
| 4 Bedrooms | $320.8K | $370.1K | +15.4% |
| 5+ Bedrooms | $415K | $394.2K | -5.0% |
Summary: Allegan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Counties
| Barry County | $256.2K | $277.8K | +8.4% |
| Ottawa County | $339.8K | $361.8K | +6.5% |
| Van Buren County | $271.1K | $288.2K | +6.3% |
| Allegan County | $283K | $300.1K | +6.0% |
| Kalamazoo County | $239K | $253.1K | +5.9% |
Housing Supply in Allegan County, MI
How many homes are available in Allegan County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 297 | 332 | +11.8% |
Summary: The Allegan County real estate market had 332 homes for sale in May 2024, a 11.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 6 | +200.0% |
| 2 Bedrooms | 43 | 49 | +14.0% |
| 3 Bedrooms | 140 | 155 | +10.7% |
| 4 Bedrooms | 73 | 78 | +6.8% |
| 5+ Bedrooms | 39 | 44 | +12.8% |
Summary: The Allegan County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 88 | 86 | -2.3% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allegan County, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.
Summary: A total of 86 homes were sold or pending in Allegan County in May 2024, down by 2.3% month-over-month. Of the 86 sold homes, 48% were sold under asking, 14% were sold at asking, and 38% were sold over asking.
Days on Market for Allegan County, MI
How long does it take to sell a home in Allegan County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 21 Days | -8.3% |
Summary: Homes in Allegan County had an average of 21 days on market in May 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Allegan County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 86 homes were sold in Allegan County; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.