2018 Grosse Pointe Real Estate Annual Report

Higbie Maxon Agney is pleased to offer our 2018 Grosse Pointe Real Estate Annual Report – Within this report you will find information on average sale prices, sales volume, real estate trends, and much more.

It proved to be an extremely active twelve months for the Grosse Pointe real estate market. Since 2014 the average sales price has increased most years. Residential sales across the Pointes have exceeded $1.3 billion, with an additional $83 million in condo, multi family, and vacant land sales.

2018 saw the average sales price increase $9,056. The increase was reflected across most of the cities. Over the past twelve months residential sales topped $292 million, and the number of residential transactions was 806.

This was a year of limited inventory, which is reflected by a slight reduction in the total number of sales, including the category of luxury homes (over $1 million). Given that 2017 was a record-breaking year for this sector 17 sales in the past twelve months was on par with previous years.
During the past year Detroit was frequently listed as one of the nations ‘hottest real estate markets’, and its popularity continues to grow and evolve. The National Realtors Association predicts the median price change, in Michigan, is expected to increase between 2.01% to 3% over the next twelve months. Early forecasts, for 2019, from Realtor.com predict the market will see modest inventory gains, while sellers who price competitively can still walk away with a handsome profit, but not the price jumps observed in previous years.

Please click here to access the full report.

Our goal is to give you an accurate and complete picture of the 2018 Grosse Pointe housing market. All of the graphs were produced internally for Higbie Maxon Agney using MiRealSource multiple listing service.

We are confident that these are the best statistics currently available on the Grosse Pointe housing market, and we hope that you will find the contents of this report readable and useful. As we look forward to the coming year, we will use this information to help our clients make informed, educated real estate decisions.

I look forward to assisting you with any real estate needs you may have in 2019.

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