Is Grosse Pointe Woods, 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 Woods has remained a Seller's Market.
Housing Prices in Grosse Pointe Woods, MI
How much do homes in Grosse Pointe Woods, MI cost?
Median Sold Price
$321,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Grosse Pointe Woods was $321,000 in March 2024, up 10.7% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $239.9K | $250K | +4.2% |
3 Bedrooms | $279.5K | $305K | +9.1% |
4 Bedrooms | $378.2K | $397K | +5.0% |
5+ Bedrooms | $430.7K | $578K | +34.2% |
Summary: Grosse Pointe Woods 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 4.2%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 34.2%.
Median Sold Price Compared To Nearby Cities
Grosse Pointe Farms | $408K | $460K | +12.7% |
Grosse Pointe Woods | $290K | $321K | +10.7% |
Saint Clair Shores | $210.4K | $222K | +5.5% |
Harper Woods | $150K | $127.3K | -15.2% |
Housing Supply in Grosse Pointe Woods, MI
How many homes are available in Grosse Pointe Woods, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 28 | +12.0% |
Summary: The Grosse Pointe Woods real estate market had 28 homes for sale in March 2024, a 12.0% 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 | 1 | 1 | 0.0% |
3 Bedrooms | 16 | 16 | 0.0% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Grosse Pointe Woods 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 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Grosse Pointe Woods in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Grosse Pointe Woods, MI
How long does it take to sell a home in Grosse Pointe Woods, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
109 Days | 38 Days | -64.8% |
Summary: Homes in Grosse Pointe Woods had an average of 38 days on market in Mar 2024, down by 64.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Grosse Pointe Woods; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.