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Low Inventory of Grosse Pointe Historical Homes Pushes Real Estate Market Up

Grosse Pointe is known for luxurious, historically relevant estates that tell their own stories dating back to the early 1900s. Today, residents of Grosse Pointe still treasure the history and tradition on which it was founded.

Famous architects like Marcel Breuer, Hugh T. Keyes, and Albert Kahn, known as the architect of Detroit, made a significant impact on the culture of what makes Grosse Pointe one of the best suburbs of the Motor City to this day.

Homes for sale in Grosse Pointe, Michigan have seen inventory drop drastically in the last year due to improving market conditions. As a result, home prices are rising and inventory is moving even faster.

According to the Realcomp Multiple Listing Service statistics, sales prices in Grosse Pointe have jumped 43% in the last six months in the luxury real estate segment (home prices $1,000,000+).

The real estate market of Grosse Pointe Farms is especially hot. Beth Rose Real Estate and Auctions just announced the 2013 Grosse Pointe Historical Show House, 221 Lewiston Road, will hit the auction block May 30th. The home will be sold at absolute auction, selling to the highest bidder, regardless of price. More information about the auction may be found here.

As for the next six months of predictions, all signs seem to be pointing up. When the snow melts and spring market really heats up, so do home prices.