Is Village of Grosse Pointe Shores, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Village of Grosse Pointe Shores was a Neutral Market.
Key Takeaway
Village of Grosse Pointe Shores is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Village of Grosse Pointe Shores, MI
How much do homes in Village of Grosse Pointe Shores, MI cost?
Median Sold Price
$625,650
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Village of Grosse Pointe Shores have sold for 11.3% less than they did a year ago.
Summary: The median home sold price in Village of Grosse Pointe Shores was $625,650 in May 2024, down 11.3% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $550K | N/A |
| 3 Bedrooms | $501.5K | $585K | +16.7% |
| 4 Bedrooms | $705K | $735K | +4.3% |
| 5+ Bedrooms | $1.3M | $860K | -36.2% |
Summary: Village of Grosse Pointe Shores housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 36.2%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe Woods | $290K | $335.2K | +15.6% |
| Saint Clair Shores | $208K | $225K | +8.2% |
| Village of Grosse Pointe Shores | $705K | $625.6K | -11.3% |
Housing Supply in Village of Grosse Pointe Shores, MI
How many homes are available in Village of Grosse Pointe Shores, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Summary: The Village of Grosse Pointe Shores real estate market had 19 homes for sale in May 2024, a 11.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Village of Grosse Pointe Shores 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Village of Grosse Pointe Shores, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Village of Grosse Pointe Shores in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Village of Grosse Pointe Shores, MI
How long does it take to sell a home in Village of Grosse Pointe Shores, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Village of Grosse Pointe Shores are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Village of Grosse Pointe Shores; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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.