Kime Realty's Market Report

Grosse Pointe, MI

Condos/Townhomes

(734) 446-5744 | Info@KimeRealty.com



Grosse Pointe, MI

Sat Mar 02 2024
This week the median list price for Grosse Pointe, MI is $279,900 with the market action index hovering around 37. This is an increase over last month's market action index of 32. Inventory has decreased to 7. Click here to stay informed with the Grosse Pointe market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Grosse Pointe, MI

Sat Mar 02 2024
This week the median list price for Grosse Pointe, MI is $279,900 with the market action index hovering around 37. This is an increase over last month's market action index of 32. Inventory has decreased to 7. Click here to stay informed with the Grosse Pointe market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Grosse Pointe market.
Median List Price $279,900
Median Price of New Listings $210,000
Per Square Foot $210
Average Days on Market 127
Median Days on Market 140
Price Decreased 29%
Price Increased 0%
Relisted 14%
Inventory 7
Median Rent
Market Action 37
Slight Seller's Advantage

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$450,000 2,186 - 2 2 53 0 0 140
$397,250 1,783 0 - 4,500 sqft 2 1.5 63 0 0 98
$255,950 1,717 - 2 1.5 88 0 0 126
$113,750 925 - 2 1 69 1 0 150