Is Grosse Ile, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grosse Ile is a seller's market

Buyer's
Market

Difference Since April 2021

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

Key Takeaway

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

How much do homes in Grosse Ile, MI cost?

Median Sold Price

$350,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$25,000(+7.7%)

Key Takeaway

Homes in Grosse Ile have sold for 7.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $195K$120K
-38.5%
2 $120K$161.7K
+34.8%
3 $290K$293K
+1.0%
4 $387.5K$420K
+8.4%
5+ $431K$587.5K
+36.3%

Median Sold Price Compared To Nearby Cities

Wyandotte
+14.2%
Riverview
+12.9%
Trenton
+11.0%
Grosse Ile
+7.7%
Grosse Ile Township
+7.7%

How many homes are available in Grosse Ile, MI?

Number of Homes For Sale

Mar 2022Apr 2022%
4341-4.7%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 00
0.0%
2 52
-60.0%
3 1214
+16.7%
4 2321
-8.7%
5+ 34
+33.3%

Number of Homes Sold

Mar 2022Apr 2022%
1118+63.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grosse Ile, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Average Sale Time

Apr 2021Apr 2022%
41 Days41 Days0.1%

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Grosse Ile, MI

Grosse Ile, MI has 41 homes on the market. The number of homes for sale in Grosse Ile, MI decreased by 4.7% between March 2022 and April 2022. Listings spent 41 days on the market in April 2022, and had a median list price of $350,000 during the same period. Listing prices have changed in this real estate market between March 2022 and April 2022: 1 bedroom properties prices decreased by 38.5%, 2 bedrooms properties became 34.8% more expensive, the cost of 3 bedrooms properties went up by 1%, the cost of 4 bedrooms properties went up by 8.4%, the cost of 5 bedrooms properties went up by 36.3%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory decreased by 60%, 3 bedrooms homes became 16.7% more available, 4 bedrooms homes inventory decreased by 8.7%, the quantity of 5 bedrooms homes went up by 33.3%. In April 2022, from all listings sold in Grosse Ile, MI there were more than 5 sold above asking price, over 8 sold below and more than 5 were sold right at the asked price.

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