$7,956 Closing Credit*
$670,000
2,837 SqFt
3 Beds
•3 Full Baths, 2 Partial
#50161531, Cynthia C. Ireland, Listing Office: Sine & Monaghan LLC
Is Grosse Pointe Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Grosse Pointe Park was a Neutral Market.
Key Takeaway
Grosse Pointe Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grosse Pointe Park, MI
How much do homes in Grosse Pointe Park, MI cost?
Median Sold Price
$503,500
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$78,500(+18.5%)
Key Takeaway
Homes in Grosse Pointe Park have sold for 18.5% more than they did a year ago.
Summary: The median home sold price in Grosse Pointe Park was $503,500 in October 2024, up 18.5% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $259.2K | $235K | -9.4% |
| 3 Bedrooms | $345K | $395K | +14.5% |
| 4 Bedrooms | $425K | $582.5K | +37.1% |
| 5+ Bedrooms | $800K | $560K | -30.0% |
Summary: Grosse Pointe Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 37.1%, and 5+ bedroom homes decreased by 30%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe | $195K | $385K | +97.4% |
| Grosse Pointe Park | $425K | $503.5K | +18.5% |
| Detroit | $79.7K | $85K | +6.6% |
Housing Supply in Grosse Pointe Park, MI
How many homes are available in Grosse Pointe Park, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 43 | +26.5% |
Summary: The Grosse Pointe Park real estate market had 43 homes for sale in October 2024, a 26.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 11 | 13 | +18.2% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Grosse Pointe Park 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 100%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Pointe Park, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Grosse Pointe Park in October 2024, up by 50.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for Grosse Pointe Park, MI
How long does it take to sell a home in Grosse Pointe Park, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 26 Days | -17.4% |
Summary: Homes in Grosse Pointe Park had an average of 26 days on market in Oct 2024, down by 17.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Pointe Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Grosse Pointe Park; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.