Is Allen Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Allen Park has remained a Seller's Market.
Housing Prices in Allen Park, MI
How much do homes in Allen Park, MI cost?
Median Sold Price
$210,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Allen Park was $210,000 in April 2024, up 13.5% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $59K | $65K | +10.2% |
2 Bedrooms | $145.5K | $158.5K | +8.9% |
3 Bedrooms | $185K | $210K | +13.5% |
4 Bedrooms | $243K | $244K | 0.4% |
5+ Bedrooms | $285K | $332.5K | +16.7% |
Summary: Allen Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 16.7%.
Median Sold Price Compared To Nearby Cities
Melvindale | $125K | $143K | +14.4% |
Allen Park | $185K | $210K | +13.5% |
Dearborn | $220K | $246.9K | +12.2% |
Lincoln Park | $134.7K | $149.1K | +10.7% |
Southgate | $175K | $182K | +4.0% |
Housing Supply in Allen Park, MI
How many homes are available in Allen Park, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
71 | 61 | -14.1% |
Summary: The Allen Park real estate market had 61 homes for sale in April 2024, a 14.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 57 | 48 | -15.8% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Allen Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 24 | -22.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Allen Park in April 2024, down by 22.6% month-over-month. Of the 24 sold homes, 8% were sold under asking, 13% were sold at asking, and 79% were sold over asking.
Days on Market for Allen Park, MI
How long does it take to sell a home in Allen Park, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 9 Days | -86.0% |
Summary: Homes in Allen Park had an average of 9 days on market in Apr 2024, down by 86% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in Allen Park; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.