Is Grosse Ile Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Grosse Ile Township has remained a Seller's Market.
Key Takeaway
Grosse Ile Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grosse Ile Township, MI
How much do homes in Grosse Ile Township, MI cost?
Median Sold Price
$368,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grosse Ile Township have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Grosse Ile Township was $368,000 in May 2024, up 4.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138K | $89K | -35.5% |
| 2 Bedrooms | $168K | $173K | +3.0% |
| 3 Bedrooms | $336K | $336K | 0.0% |
| 4 Bedrooms | $445K | $490K | +10.1% |
| 5+ Bedrooms | $570K | $540K | -5.3% |
Summary: Grosse Ile Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.5%, 2 bedroom homes increased by 3%, 3 bedroom homes did not change, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Wyandotte | $169.9K | $185.6K | +9.2% |
| Grosse Ile Township | $351.5K | $368K | +4.7% |
| Grosse Ile | $351.5K | $368K | +4.7% |
| Trenton | $219.9K | $225K | +2.3% |
Housing Supply in Grosse Ile Township, MI
How many homes are available in Grosse Ile Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 48 | +9.1% |
Summary: The Grosse Ile Township real estate market had 48 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 18 | 25 | +38.9% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Grosse Ile Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 38.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Ile Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Grosse Ile Township in May 2024, up by 36.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 7% were sold at asking, and 33% were sold over asking.
Days on Market for Grosse Ile Township, MI
How long does it take to sell a home in Grosse Ile Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 58 Days | +55.3% |
Summary: Homes in Grosse Ile Township had an average of 58 days on market in May 2024, up by 55.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Ile Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Grosse Ile Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
