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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grosse Pointe Park is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Grosse Pointe Park was a Seller's Market.

Key Takeaway

Grosse Pointe Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Grosse Pointe Park, MI

How much do homes in Grosse Pointe Park, MI cost?

Median Sold Price

$507,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$85,000(+20.1%)

Key Takeaway

Homes in Grosse Pointe Park have sold for 20.1% more than they did a year ago.

Summary: The median home sold price in Grosse Pointe Park was $507,000 in September 2024, up 20.1% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $235K$235K
0.0%
3 $344.5K$415K
+20.4%
4 $425K$576.2K
+35.6%
5+ $645K$580.6K
-10.0%

Summary: Grosse Pointe Park housing prices by bedroom type for September 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 20.4%, 4 bedroom homes increased by 35.6%, and 5+ bedroom homes decreased by 10%.

Median Sold Price Compared To Nearby Cities

Grosse Pointe
+78.5%
Grosse Pointe Park
+20.1%
Detroit
+7.5%

Housing Supply in Grosse Pointe Park, MI

How many homes are available in Grosse Pointe Park, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4437-15.9%

Summary: The Grosse Pointe Park real estate market had 37 homes for sale in September 2024, a 15.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 1211
-8.3%
4 1712
-29.4%
5+ 1210
-16.7%

Summary: The Grosse Pointe Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
165-68.8%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grosse Pointe Park, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Grosse Pointe Park in September 2024, down by 68.8% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.

Days on Market for Grosse Pointe Park, MI

How long does it take to sell a home in Grosse Pointe Park, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
22 Days28 Days+26.3%

Summary: Homes in Grosse Pointe Park had an average of 28 days on market in Sep 2024, up by 26.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Grosse Pointe Park has remained consistent over time.

Summary: During September 2024, 5 homes were sold in Grosse Pointe Park; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

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