Is Grosse Ile, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grosse Ile is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Grosse Ile was a Neutral Market.

Key Takeaway

Grosse Ile is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Grosse Ile, MI

How much do homes in Grosse Ile, MI cost?

Median Sold Price

$370,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$16,750(+4.7%)

Key Takeaway

Homes in Grosse Ile have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Grosse Ile was $370,000 in October 2024, up 4.7% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $138K$93.5K
-32.2%
2 $187.5K$176K
-6.1%
3 $345K$333K
-3.5%
4 $457.5K$465.7K
+1.8%
5+ $467.5K$580K
+24.1%

Summary: Grosse Ile housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.2%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 24.1%.

Median Sold Price Compared To Nearby Cities

Wyandotte
+5.6%
Grosse Ile
+4.7%
Grosse Ile Township
+4.7%
Trenton
+4.4%

Housing Supply in Grosse Ile, MI

How many homes are available in Grosse Ile, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5248-7.7%

Summary: The Grosse Ile real estate market had 48 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 75
-28.6%
3 1917
-10.5%
4 2324
+4.3%
5+ 32
-33.3%

Summary: The Grosse Ile housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1610-37.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grosse Ile, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Grosse Ile in October 2024, down by 37.5% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.

Days on Market for Grosse Ile, MI

How long does it take to sell a home in Grosse Ile, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days48 Days+211.5%

Summary: Homes in Grosse Ile had an average of 48 days on market in Oct 2024, up by 211.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Grosse Ile are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in Grosse Ile; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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