Is Alma, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Alma was a Neutral Market.
Key Takeaway
Alma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alma, MI
How much do homes in Alma, MI cost?
Median Sold Price
$163,500
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Alma have sold for 22% more than they did a year ago.
Summary: The median home sold price in Alma was $163,500 in May 2024, up 22% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $44K | - | N/A |
| 2 Bedrooms | $93K | $126K | +35.6% |
| 3 Bedrooms | $140K | $170K | +21.4% |
| 4 Bedrooms | $142K | $205K | +44.4% |
| 5+ Bedrooms | $188.2K | $344.3K | +82.9% |
Summary: Alma housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.6%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 82.9%.
Housing Supply in Alma, MI
How many homes are available in Alma, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 55 | +7.8% |
Summary: The Alma real estate market had 55 homes for sale in May 2024, a 7.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 31 | 29 | -6.5% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Alma housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alma, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Alma in May 2024, up by 9.1% month-over-month. Of the 12 sold homes, 42% were sold under asking, 33% were sold at asking, and 25% were sold over asking.
Days on Market for Alma, MI
How long does it take to sell a home in Alma, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 82 Days | +125.7% |
Summary: Homes in Alma had an average of 82 days on market in May 2024, up by 125.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Alma has remained consistent over time.
Summary: During May 2024, 12 homes were sold in Alma; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. 
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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.