Is Grosse Pointe, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Grosse Pointe has remained a Seller's Market.
Key Takeaway
Grosse Pointe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grosse Pointe, MI
How much do homes in Grosse Pointe, MI cost?
Median Sold Price
$248,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Grosse Pointe have sold for 5.3% less than they did a year ago.
Summary: The median home sold price in Grosse Pointe was $248,500 in April 2024, down 5.3% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77K | - | N/A |
| 2 Bedrooms | $245K | $109.9K | -55.1% |
| 3 Bedrooms | $187K | $189.5K | +1.3% |
| 4 Bedrooms | $375K | $410K | +9.3% |
| 5+ Bedrooms | $499K | $844.5K | +69.2% |
Summary: Grosse Pointe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 55.1%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 69.2%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe Farms | $430K | $460K | +7.0% |
| Detroit | $80K | $81K | +1.3% |
| Grosse Pointe | $262.5K | $248.5K | -5.3% |
Housing Supply in Grosse Pointe, MI
How many homes are available in Grosse Pointe, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Summary: The Grosse Pointe real estate market had 26 homes for sale in April 2024, a 23.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 7 | 14 | +100.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Grosse Pointe housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Pointe, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Grosse Pointe in April 2024, down by 11.1% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 89 Days | 11 Days | -87.5% |
Summary: Homes in Grosse Pointe had an average of 11 days on market in Apr 2024, down by 87.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Pointe are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Grosse Pointe; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.