Is Grosse Pointe Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Grosse Pointe Park was a Seller's Market.
Housing Prices in Grosse Pointe Park, MI
How much do homes in Grosse Pointe Park, MI cost?
Median Sold Price
$459,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Grosse Pointe Park was $459,900 in April 2024, up 19.5% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $272.5K | $283.5K | +4.0% |
3 Bedrooms | $315K | $352.5K | +11.9% |
4 Bedrooms | $427.3K | $485K | +13.5% |
5+ Bedrooms | $612.9K | $560K | -8.6% |
Summary: Grosse Pointe Park 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 increased by 4%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
Grosse Pointe Park | $385K | $459.9K | +19.5% |
Detroit | $80K | $81K | +1.3% |
Grosse Pointe | $262.5K | $248.5K | -5.3% |
Housing Supply in Grosse Pointe Park, MI
How many homes are available in Grosse Pointe Park, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 28 | +40.0% |
Summary: The Grosse Pointe Park real estate market had 28 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 4 | 5 | +25.0% |
4 Bedrooms | 6 | 11 | +83.3% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Grosse Pointe Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Grosse Pointe Park in April 2024, down by 20.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 8 Days | 0.0% |
Summary: Homes in Grosse Pointe Park had an average of 8 days on market in Apr 2024, the same as last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Grosse Pointe Park; 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.