Is Eastpointe, 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, Eastpointe has remained a Seller's Market.
Key Takeaway
Eastpointe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Eastpointe, MI
How much do homes in Eastpointe, MI cost?
Median Sold Price
$150,750
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Eastpointe have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Eastpointe was $150,750 in May 2024, up 6.8% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $30.2K | N/A |
| 2 Bedrooms | $110K | $115.5K | +5.0% |
| 3 Bedrooms | $145.3K | $155K | +6.7% |
| 4 Bedrooms | $159K | $174K | +9.4% |
| 5+ Bedrooms | $175K | $178K | +1.7% |
Summary: Eastpointe 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 increased by 5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Warren | $169.9K | $185.4K | +9.1% |
| Saint Clair Shores | $208K | $225K | +8.2% |
| Roseville | $153K | $163.5K | +6.9% |
| Eastpointe | $141.2K | $150.7K | +6.8% |
| Harper Woods | $148.9K | $136.4K | -8.4% |
Housing Supply in Eastpointe, MI
How many homes are available in Eastpointe, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 140 | 151 | +7.9% |
Summary: The Eastpointe real estate market had 151 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 19 | 26 | +36.8% |
| 3 Bedrooms | 108 | 111 | +2.8% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Eastpointe housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 36.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 42 | +20.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Eastpointe, you could pay more than the asking price. 54.8% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in Eastpointe in May 2024, up by 20.0% month-over-month. Of the 42 sold homes, 33% were sold under asking, 12% were sold at asking, and 55% were sold over asking.
Days on Market for Eastpointe, MI
How long does it take to sell a home in Eastpointe, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -6.6% |
Summary: Homes in Eastpointe had an average of 16 days on market in May 2024, down by 6.6% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Eastpointe are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 42 homes were sold in Eastpointe; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% 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.