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 April 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
$329,900
$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 Woods was $329,900 in April 2024, up 13.8% 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 | $239.9K | $275.5K | +14.8% |
3 Bedrooms | $279.5K | $310K | +10.9% |
4 Bedrooms | $376.5K | $396K | +5.2% |
5+ Bedrooms | $430.7K | $559K | +29.8% |
Summary: Grosse Pointe Woods 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 14.8%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 29.8%.
Median Sold Price Compared To Nearby Cities
Grosse Pointe Woods | $290K | $329.9K | +13.8% |
Saint Clair Shores | $210K | $225K | +7.1% |
Grosse Pointe Farms | $430K | $460K | +7.0% |
Harper Woods | $150K | $125.5K | -16.3% |
Village of Grosse Pointe Shores | $737.5K | $605.3K | -17.9% |
Housing Supply in Grosse Pointe Woods, MI
How many homes are available in Grosse Pointe Woods, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 41 | +64.0% |
Summary: The Grosse Pointe Woods real estate market had 41 homes for sale in April 2024, a 64.0% 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 | 3 | +50.0% |
3 Bedrooms | 14 | 23 | +64.3% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Grosse Pointe Woods 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 increased by 50%, 3 bedroom homes increased by 64.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Grosse Pointe Woods in April 2024, up by 42.9% month-over-month. Of the 10 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
130 Days | 8 Days | -93.9% |
Summary: Homes in Grosse Pointe Woods had an average of 8 days on market in Apr 2024, down by 93.9% compared to last year.
Breakdown of Home Sale Times
10 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, 10 homes were sold in Grosse Pointe Woods; 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.