Is Black River, MI 48721 a buyer’s or seller’s market?
Black River is a seller’s market. With about 2.1 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Black River housing market right now
In the three months ending August 31, 2026, 0% of homes in Black River, MI 48721 sold above their list price, the typical home went under contract in 104 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (55 days then) and the median sale price rose 23% to $194,916. Overall, Black River is less competitive than a year ago, which gives buyers more room.
Within Alcona County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Barton City 48705 (33% sold over asking) and Spruce 48762 (14% sold over asking) are even more competitive.
Run the numbers for 48721
Nearby markets
Barton City 48705Balanced $153 /sq ftCurran 48728Buyer’s market $173 /sq ftGlennie 48737Buyer’s market $96 /sq ftGreenbush 48738Buyer’s market $231 /sq ft Browse all markets →Where Black River is
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Questions about Black River real estate
Is Black River a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Black River, MI 48721 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Black River?
The typical home went under contract in 104 days in the latest three months.
Do homes in Black River sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 91.0% of the list price.
What are property taxes in Black River?
About 0.82% of a home’s value a year in Alcona County, or roughly $3,280 on a $400,000 home.
What is the median home price in Black River?
The median sale price was $194,916 in the three months ending August 31, 2026, about $152 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology