$6,531 Closing Credit*
$550,000
1,918 SqFt
3 Beds
•3 Full Baths, 1 Partial
#50161213, Stacey Keyes, Listing Office: Sine & Monaghan LLC
Is Grosse Pointe Woods, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Grosse Pointe Woods has remained a Seller's Market.
Key Takeaway
Grosse Pointe Woods is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grosse Pointe Woods, MI
How much do homes in Grosse Pointe Woods, MI cost?
Median Sold Price
$330,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,500(+9.1%)
Key Takeaway
Homes in Grosse Pointe Woods have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Grosse Pointe Woods was $330,000 in October 2024, up 9.1% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $232K | $285K | +22.8% |
| 3 Bedrooms | $284.9K | $313K | +9.9% |
| 4 Bedrooms | $375K | $427K | +13.9% |
| 5+ Bedrooms | $475K | $369.5K | -22.2% |
Summary: Grosse Pointe Woods 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 increased by 22.8%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes decreased by 22.2%.
Median Sold Price Compared To Nearby Cities
| Grosse Pointe Farms | $460K | $549.5K | +19.5% |
| Saint Clair Shores | $210K | $235K | +11.9% |
| Grosse Pointe Woods | $302.5K | $330K | +9.1% |
| Harper Woods | $136.7K | $148K | +8.3% |
| Village of Grosse Pointe Shores | $850K | $630K | -25.9% |
Housing Supply in Grosse Pointe Woods, MI
How many homes are available in Grosse Pointe Woods, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 83 | 70 | -15.7% |
Summary: The Grosse Pointe Woods real estate market had 70 homes for sale in October 2024, a 15.7% decrease 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 | 10 | 8 | -20.0% |
| 3 Bedrooms | 47 | 41 | -12.8% |
| 4 Bedrooms | 24 | 19 | -20.8% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Grosse Pointe Woods 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 20%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 20 | -31.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grosse Pointe Woods, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Grosse Pointe Woods in October 2024, down by 31.0% month-over-month. Of the 20 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Grosse Pointe Woods, MI
How long does it take to sell a home in Grosse Pointe Woods, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 23 Days | +36.6% |
Summary: Homes in Grosse Pointe Woods had an average of 23 days on market in Oct 2024, up by 36.6% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grosse Pointe Woods are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in Grosse Pointe Woods; 75% of homes were sold within 30 days, 25% 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.