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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grosse Pointe is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Grosse Pointe has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Grosse Pointe, MI

How much do homes in Grosse Pointe, MI cost?

Median Sold Price

$385,000

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$190,000(+97.4%)

Key Takeaway

Homes in Grosse Pointe have sold for 97.4% more than they did a year ago.

Summary: The median home sold price in Grosse Pointe was $385,000 in October 2024, up 97.4% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $79K$81K
+2.5%
2 $105K$109.9K
+4.7%
3 $169K$263.7K
+56.1%
4 $410K$462K
+12.7%
5+ $675K$975K
+44.4%

Summary: Grosse Pointe housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 56.1%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 44.4%.

Median Sold Price Compared To Nearby Cities

Grosse Pointe
+97.4%
Grosse Pointe Farms
+19.5%
Detroit
+6.6%

Housing Supply in Grosse Pointe, MI

How many homes are available in Grosse Pointe, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4752+10.6%

Summary: The Grosse Pointe real estate market had 52 homes for sale in October 2024, a 10.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1014
+40.0%
3 1114
+27.3%
4 2117
-19.0%
5+ 57
+40.0%

Summary: The Grosse Pointe 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 increased by 40%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13130.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grosse Pointe, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Grosse Pointe in October 2024, the same as the previous month. Of the 13 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.

Days on Market for Grosse Pointe, MI

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

Average Sale Time

Oct 2023Oct 2024CHANGE
6 Days20 Days+215.8%

Summary: Homes in Grosse Pointe had an average of 20 days on market in Oct 2024, up by 215.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 13 homes were sold in Grosse Pointe; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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 12 Days Ago

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