Is Grosse Pointe, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Grosse Pointe has remained a Seller's Market.
Housing Prices in Grosse Pointe, MI
How much do homes in Grosse Pointe, MI cost?
Median Sold Price
$200,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Grosse Pointe was $200,000 in March 2024, down 27.3% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $77K | - | N/A |
2 Bedrooms | $245K | $107.4K | -56.2% |
3 Bedrooms | $265K | $183.7K | -30.7% |
4 Bedrooms | $375K | $386K | +2.9% |
5+ Bedrooms | $587K | $844.5K | +43.9% |
Summary: Grosse Pointe 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 decreased by 56.2%, 3 bedroom homes decreased by 30.7%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 43.9%.
Median Sold Price Compared To Nearby Cities
Grosse Pointe Farms | $408K | $460K | +12.7% |
Detroit | $80.2K | $80.1K | -0.1% |
Grosse Pointe | $275K | $200K | -27.3% |
Housing Supply in Grosse Pointe, MI
How many homes are available in Grosse Pointe, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 22 | +10.0% |
Summary: The Grosse Pointe real estate market had 22 homes for sale in March 2024, a 10.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 8 | 8 | 0.0% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Grosse Pointe housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 9 | +80.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Grosse Pointe in March 2024, up by 80.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Grosse Pointe, MI
How long does it take to sell a home in Grosse Pointe, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
70 Days | 49 Days | -29.2% |
Summary: Homes in Grosse Pointe had an average of 49 days on market in Mar 2024, down by 29.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Grosse Pointe; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.