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 seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

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

Median Sold Price

$367,500

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$32,500(+9.7%)

Key Takeaway

Homes in Grosse Pointe Park have sold for 9.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $910$925
+1.6%
2 $1.1K$1.2K
+13.6%
3 $303K$340K
+12.2%
4 $453.5K$460K
+1.4%
5+ $576K$577.5K
0.3%

Median Sold Price Compared To Nearby Cities

Detroit
+40.0%
Grosse Pointe Park
+9.7%
Grosse Pointe
-0.2%

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

Number of Homes For Sale

Apr 2022May 2022%
5849-15.5%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 62
-66.7%
3 1511
-26.7%
4 1918
-5.3%
5+ 1818
0.0%

Number of Homes Sold

Apr 2022May 2022%
2313-43.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 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. 53.8% of homes here sold below asking price last month.

Average Sale Time

May 2021May 2022%
24 Days21 Days-12.4%

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Grosse Pointe Park 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 Pointe Park, MI

There are 49 homes are for sale in Grosse Pointe Park, MI real estate market. The number of homes for sale in Grosse Pointe Park, MI decreased by 15.5% between April 2022 and May 2022. The median list price of listings available in May 2022 was $367,500, while the average time on the real estate market was 21 days. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went up by 1.6%, 2 bedrooms properties prices increased by 13.6%, prices of 3 bedrooms properties went up by 12.2%, prices of 4 bedrooms properties went up by 1.4%, 5 bedrooms properties became 0.3% more expensive. Housing inventory have changed in this real estate market: 1 bedroom homes did not move, 2 bedrooms homes inventory decreased by 66.7%, volume of 3 bedrooms homes went down by 26.7%, 4 bedrooms homes inventory decreased by 5.3%, 5 bedrooms homes did not move. Over 4 listings were sold over their listed price in May 2022 in Grosse Pointe Park, MI. In the same period over 7 listings were sold below the listed price and 2 listings were sold for the listed price.

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