$4,750 Closing Credit*
$400,000
2,222 SqFt
4 Beds
•3 Full Baths, 1 Partial
#50162263, Shana Sine-Cameron, Listing Office: Sine & Monaghan LLC
Is Grosse Pointe, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Grosse Pointe was a Buyer'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
$369,250
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$178,250(+93.3%)
Key Takeaway
Homes in Grosse Pointe have sold for 93.3% more than they did a year ago.
Summary: The median home sold price in Grosse Pointe was $369,250 in November 2024, up 93.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79K | $95K | +20.3% |
| 2 Bedrooms | $105K | $200K | +90.5% |
| 3 Bedrooms | $176.2K | $272.5K | +54.6% |
| 4 Bedrooms | $357K | $472.5K | +32.4% |
| 5+ Bedrooms | $675K | $855K | +26.7% |
Summary: Grosse Pointe housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.3%, 2 bedroom homes increased by 90.5%, 3 bedroom homes increased by 54.6%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe | $191K | $369.2K | +93.3% |
| Grosse Pointe Farms | $460K | $559.5K | +21.6% |
| Detroit | $78.3K | $85K | +8.5% |
Housing Supply in Grosse Pointe, MI
How many homes are available in Grosse Pointe, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 50 | 0.0% |
Summary: The Grosse Pointe real estate market had 50 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 16 | 13 | -18.8% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Grosse Pointe housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Pointe, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Grosse Pointe in November 2024, down by 31.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 35 Days | +22.9% |
Summary: Homes in Grosse Pointe had an average of 35 days on market in Nov 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Pointe are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in Grosse Pointe; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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.