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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Eastpointe is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Eastpointe, MI

How much do homes in Eastpointe, MI cost?

Median Sold Price

$147,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$7,057(+5.0%)

Key Takeaway

Homes in Eastpointe have sold for 5% more than they did a year ago.

Summary: The median home sold price in Eastpointe was $147,000 in February 2024, up 5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $26K$29.4K
+13.1%
2 $103K$103K
0.0%
3 $144.8K$150K
+3.5%
4 $155K$166K
+7.1%
5+ $194.9K$178K
-8.7%

Summary: Eastpointe housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 8.7%.

Median Sold Price Compared To Nearby Cities

Warren
+7.5%
Eastpointe
+5.0%
Roseville
+3.9%
Saint Clair Shores
+3.0%
Harper Woods
-13.8%

Housing Supply in Eastpointe, MI

How many homes are available in Eastpointe, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
131116-11.5%

Summary: The Eastpointe real estate market had 116 homes for sale in February 2024, a 11.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 32
-33.3%
2 2219
-13.6%
3 8779
-9.2%
4 1511
-26.7%
5+ 45
+25.0%

Summary: The Eastpointe housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3033+10.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Eastpointe, you could pay more than the asking price. 60.6% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Eastpointe in February 2024, up by 10.0% month-over-month. Of the 33 sold homes, 27% were sold under asking, 12% were sold at asking, and 61% were sold over asking.

Days on Market for Eastpointe, MI

How long does it take to sell a home in Eastpointe, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
21 Days29 Days+39.0%

Summary: Homes in Eastpointe had an average of 29 days on market in Feb 2024, up by 39% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Eastpointe are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 33 homes were sold in Eastpointe; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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