Is Alpena, MI 49707 a buyer’s or seller’s market?
Alpena is a seller’s market. With about 3.3 months of supply and 18% 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.
More competitive than 45% of U.S. ZIP codes, and #393 of 510 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Alpena housing market right now
In the three months ending August 31, 2026, 18% of homes in Alpena, MI 49707 sold above their list price, the typical home went under contract in 39 days and there were 3.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 94 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 35%, homes sold faster (46 days then) and the median sale price fell 15% to $179,422. Overall, Alpena is less competitive than a year ago, which gives buyers more room.
On our competition score, Alpena ranks #393 of 510 MI ZIP codes with enough sales (score 45 out of 100).
Nearby, buyers who want less competition could look at Ossineke 49766 (0% sold over asking) or Lachine 49753 (14% sold over asking), while Herron 49744 (50% sold over asking) is even more competitive.
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Nearby markets
Herron 49744Seller’s market $122 /sq ftLachine 49753Balanced $131 /sq ftOssineke 49766Balanced $100 /sq ft Browse all markets →Towns like Alpena nearby
Find towns like Alpena in other states →Where Alpena is
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Questions about Alpena real estate
Is Alpena a buyer’s or seller’s market?
A seller’s market: there were 3.3 months of supply in Alpena, MI 49707 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 Alpena?
The typical home went under contract in 39 days in the latest three months.
Do homes in Alpena sell over asking?
18% of homes sold above their original list price, and the typical sale closed at 98.2% of the list price.
What are property taxes in Alpena?
About 1.06% of a home’s value a year in Alpena County, or roughly $4,240 on a $400,000 home.
What is the median home price in Alpena?
The median sale price was $179,422 in the three months ending August 31, 2026, about $122 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