Is Grosse Ile, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Grosse Ile was a Seller's Market.
Key Takeaway
Grosse Ile is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Grosse Ile, MI
How much do homes in Grosse Ile, MI cost?
Median Sold Price
$347,450
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Grosse Ile have sold for 4.8% less than they did a year ago.
Summary: The median home sold price in Grosse Ile was $347,450 in March 2024, down 4.8% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $113.5K | N/A |
| 2 Bedrooms | $160K | $175K | +9.4% |
| 3 Bedrooms | $332K | $325K | -2.1% |
| 4 Bedrooms | $474.9K | $460K | -3.1% |
| 5+ Bedrooms | $570K | $460K | -19.3% |
Summary: Grosse Ile housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes decreased by 19.3%.
Median Sold Price Compared To Nearby Cities
| Wyandotte | $170K | $181K | +6.5% |
| Trenton | $215K | $225K | +4.6% |
| Grosse Ile | $365K | $347.4K | -4.8% |
| Grosse Ile Township | $365K | $347.4K | -4.8% |
Housing Supply in Grosse Ile, MI
How many homes are available in Grosse Ile, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 39 | -2.5% |
Summary: The Grosse Ile real estate market had 39 homes for sale in March 2024, a 2.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Grosse Ile housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 4 | -69.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Ile, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Grosse Ile in March 2024, down by 69.2% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Grosse Ile, MI
How long does it take to sell a home in Grosse Ile, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 161 Days | 26 Days | -83.4% |
Summary: Homes in Grosse Ile had an average of 26 days on market in Mar 2024, down by 83.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Ile are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Grosse Ile; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
