Alpena Housing Market Report February 2025•Alpena County, Michigan

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Housing Prices in Alpena, MI

How much do homes in Alpena, MI cost?

Housing Market Conditions

Is Alpena, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Alpena is a Seller's Market

Difference Since February 2024

Since last year, Alpena has remained a Seller's Market.

Insight

Alpena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$171,000$113/SqFt
+$21,000
+14.0%

Based on all homes sold in the last 12 months

Insight

Homes in Alpena have sold for 14% more than they did a year ago.

Summary: The median home sold price in Alpena was $171,000 in February 2025, up 14% from last year, and the median price per square foot was $113.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Alpena
+14.0%
Alpena Township
+13.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$134K$81K
-39.6%
2$131K$136K
+3.8%
3$152.5K$175.4K
+15.0%
4$257.5K$217K
-15.7%
5$149K$259.7K
+74.3%

Summary: Alpena housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -39.6%. The home price for 2 bedroom homes increased by +3.8%. The home price for 3 bedroom homes increased by +15.0%. The home price for 4 bedroom homes decreased by -15.7%. The home price for 5 bedroom homes increased by +74.3%.

Housing supply in Alpena, MI

How many homes are available in Alpena, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
57Last MonthFeb 2025
512 months agoJan 2025
+11.8 %
Change MoMJan – Feb

Summary: The Alpena real estate market had 57 homes for sale in Feb 2025, a 11.8 % increase compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
14Last MonthFeb 2025
142 months agoJan 2025
0.0 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
111
0.0%
21615
-6.3%
32733
+22.2%
467
+16.7%
511
0.0%

Summary: Alpena housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -6.3%. The inventory for 3 bedroom homes increased by +22.2%. The inventory for 4 bedroom homes increased by +16.7%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Alpena, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price3 Homes

Under Asking Price9 Homes

Insight

If you're buying a home in Alpena, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Alpena in February 2025, the same as the previous month. Of the 14 sold homes, 64% were sold under asking, 21% were sold at asking, and and 14% were sold over asking.

Days on Market for Alpena, MI

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in Alpena, MI

What homes are available in Alpena, MI?

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MLS Disclaimers and Copyright

Based on information from Water Wonderland MLS Inc., MiRealSource Inc. DL, RealComp II Ltd., and Northern Michigan MLS for the period 03/01/2023 - 03/01/2025

IDX © 2025 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/9/2025, 5:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/9/2025, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: 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.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/9/2025, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2025 NM-MLS. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/9/2025, 5:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.