Grosse Pointe Woods Housing Market Report February 2025Wayne County, Michigan

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Housing Prices in Grosse Pointe Woods, MI

How much do homes in Grosse Pointe Woods, MI cost?

Housing Market Conditions

Is Grosse Pointe Woods, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Grosse Pointe Woods is a Seller's Market

Difference Since February 2024

Since last year, Grosse Pointe Woods has remained a Seller's Market.

Insight

Grosse Pointe Woods is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$328,000$187/SqFt
+$10,500
+3.3%

Based on all homes sold in the last 12 months

Insight

Homes in Grosse Pointe Woods have sold for 3.3% more than they did a year ago.

Summary: The median home sold price in Grosse Pointe Woods was $328,000 in February 2025, up 3.3% from last year, and the median price per square foot was $187.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Grosse Pointe Farms
+25.5%
Harper Woods
+11.1%
Saint Clair Shores
+6.7%
Grosse Pointe Woods
+3.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1--
N/A
2$235K$258.5K
+10.0%
3$307.5K$309.5K
+0.7%
4$377K$450K
+19.4%
5$578K$487.5K
-15.7%

Summary: Grosse Pointe Woods housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +10.0%. The home price for 3 bedroom homes increased by +0.7%. The home price for 4 bedroom homes increased by +19.4%. The home price for 5 bedroom homes decreased by -15.7%.

How does Grosse Pointe Woods, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Grosse Pointe Woods, MI

Housing supply in Grosse Pointe Woods, MI

How many homes are available in Grosse Pointe Woods, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
60Last MonthFeb 2025
602 months agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: The Grosse Pointe Woods real estate market had 60 homes for sale in Feb 2025, the same as Jan 2025

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
14Last MonthFeb 2025
122 months agoJan 2025
+16.7 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
277
0.0%
34240
-4.8%
41011
+10.0%
512
+100.0%

Summary: Grosse Pointe Woods housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -4.8%. The inventory for 4 bedroom homes increased by +10.0%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Grosse Pointe Woods, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price5 Homes

At Asking Price2 Homes

Under Asking Price7 Homes

Insight

If you're buying a home in Grosse Pointe Woods, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Grosse Pointe Woods in February 2025, up by 16.7% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and and 36% 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?

Breakdown of Home Sale Times

Under 30 Days10 Homes

30 – 90 Days1 Home

Over 90 Days3 Homes

Insight

Many homes in Grosse Pointe Woods are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 14 homes were sold in Grosse Pointe Woods; 71% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
40 DaysThis YearFeb 2025
29 Days1 year agoFeb 2024
+35.1 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Grosse Pointe Woods had an average listing age of 40 days in Feb 2025, up by 35.1% compared to the previous year.

Newest Listings in Grosse Pointe Woods, MI

What homes are available in Grosse Pointe Woods, MI?

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Last updated on: 3/15/2025, 12:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Last updated on: 3/15/2025, 12:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.