Is Village of Grosse Pointe Shores, 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, Village of Grosse Pointe Shores has remained a Seller's Market.
Key Takeaway
Village of Grosse Pointe Shores is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Village of Grosse Pointe Shores, MI
How much do homes in Village of Grosse Pointe Shores, MI cost?
Median Sold Price
$605,325
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Village of Grosse Pointe Shores have sold for 17.9% less than they did a year ago.
Summary: The median home sold price in Village of Grosse Pointe Shores was $605,325 in April 2024, down 17.9% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $550K | N/A |
| 3 Bedrooms | $501.5K | $515K | +2.7% |
| 4 Bedrooms | $585K | $762.8K | +30.4% |
| 5+ Bedrooms | $1.2M | $860K | -33.6% |
Summary: Village of Grosse Pointe Shores housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes decreased by 33.6%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe Woods | $290K | $329.9K | +13.8% |
| Saint Clair Shores | $210K | $225K | +7.1% |
| Village of Grosse Pointe Shores | $737.5K | $605.3K | -17.9% |
Housing Supply in Village of Grosse Pointe Shores, MI
How many homes are available in Village of Grosse Pointe Shores, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The Village of Grosse Pointe Shores real estate market had 14 homes for sale in April 2024, a 27.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Village of Grosse Pointe Shores 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 increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Village of Grosse Pointe Shores, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Village of Grosse Pointe Shores in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Village of Grosse Pointe Shores, MI
How long does it take to sell a home in Village of Grosse Pointe Shores, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Village of Grosse Pointe Shores are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Village of Grosse Pointe Shores; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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.