Is Grosse Ile, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Grosse Ile has remained a Seller's Market.
Housing Prices in Grosse Ile, MI
How much do homes in Grosse Ile, MI cost?
Median Sold Price
$368,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Grosse Ile was $368,000 in May 2024, up 4.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138K | $89K | -35.5% |
2 Bedrooms | $168K | $173K | +3.0% |
3 Bedrooms | $336K | $336K | 0.0% |
4 Bedrooms | $445K | $490K | +10.1% |
5+ Bedrooms | $570K | $540K | -5.3% |
Summary: Grosse Ile housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.5%, 2 bedroom homes increased by 3%, 3 bedroom homes did not change, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 5.3%.
Median Sold Price Compared To Nearby Cities
Wyandotte | $169.9K | $185.6K | +9.2% |
Grosse Ile | $351.5K | $368K | +4.7% |
Grosse Ile Township | $351.5K | $368K | +4.7% |
Trenton | $219.9K | $225K | +2.3% |
Housing Supply in Grosse Ile, MI
How many homes are available in Grosse Ile, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 48 | +9.1% |
Summary: The Grosse Ile real estate market had 48 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 18 | 25 | +38.9% |
4 Bedrooms | 15 | 15 | 0.0% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Grosse Ile housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 38.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Grosse Ile in May 2024, up by 36.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 7% were sold at asking, and 33% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 58 Days | +55.3% |
Summary: Homes in Grosse Ile had an average of 58 days on market in May 2024, up by 55.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Grosse Ile; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.