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How Much Does An Average Home Cost in Grosse Pointe?

City of Grosse Pointe lands in the bottom of the middle third of the state's 99 most expensive communities in Coldwell Banker's latest Home Listing Report.

 

In its latest national home listing report, released last week, Coldwell Banker ranks the City of Grosse Pointe as the 64th most expensive home market in Michigan with the average price of a typical four-bedroom, two-bath home listed at $181,700.

Coldwell Banker's commmunity overview puts the median Grosse Pointe household income at $86,858 and says 32 percent of households are families with children. Half the population commutes 23 minutes or more to work and 85 percent of residents hold white collar jobs while 15 percent residents hold blue collar jobs.

According to the report, which looked at 2,479 communities across the country, the average price of a typical four-bedroom, two-bath in the United States is $292,152. That price tag jumps to $742,551 in Hawaii, the nation’s most expensive state.

Joining the City of Grosse Pointe in the Great Lake State's priciest communities, according to Coldwell Banker, are a number of neighboring towns, such as Birmingham, Bloomfield Township, Royal Oak, Rochester Hills, and Berkley.

Redford, meanwhile, is the least expensive community in state and the entire nation, according to Coldwell Banker, with an average listing price of $60,490 for a four-bedroom, two-bathroom home.

Rank in Michigan Community  Average Price 1 Birmingham $429,800 3 Bloomfield Twp. $328,034 4 Northville $325,600 9 Rochester Hills $300,538 12 Berkley $285,573 16 Plymouth $271,924 17 Novi $268,812 25 Royal Oak $253,507 39 Troy $228,404 41 Sterling Heights $218,928 42 Farmington Hills $218,388 57 Livonia $193,778 64 Grosse Pointe $181,700 90 Southfield $123,843 96 Warren $99,349 98 Detroit $65,155 99* Redford $60,490

Source: Coldwell Banker's Michigan Home Listing Report. *Communities in Michigan were ranked from 1 to 99 in the report. 

Bill December 11, 2012 at 01:31 PM
We need to see each Grosse Pointe alone as one these numbers are junk
Todd Riley December 11, 2012 at 01:59 PM
Don't know where they got this data, but a quick search of zip 48230 homes for sale with 4+ beds and it shows 13 Houses below $181,000 and 66 above. Agree with Bill.
Savvy Shopper December 11, 2012 at 02:05 PM
Good to see we are behind Sterling Heights and Berkley. Yikes!
Brian Vosburg December 11, 2012 at 02:16 PM
Just a few clicks of the mouse on the links provided in the article above and one finds the info being asked: http://www.coldwellbanker.com/real_estate/home_search/MI/GROSSE%20POINTE The data is based on the price homes sold for, not the price people are asking for their homes.
Joe MacDonald December 11, 2012 at 03:10 PM
According to zillow.com, the average housing value for each of the Grosse Pointe communities and their neighbors in October 2012 was as follows: Grosse Pointe Shores: $372,000 Grosse Pointe Park: $218,000 Grosse Pointe Farms: $216,000 Grosse Pointe City: $203,000 Grosse Pointe Woods: $141,000 St. Clair Shores: $77,000 Harper Woods: $42,000 Detroit: $28,000
James Gerardi December 11, 2012 at 03:37 PM
There seems to be some confusion. If you go to the link, it says that Grosse Pointe includes the City, Farms, Shores, etc., yet the Patch article talks about the "City of Grosse Pointe" which to us locally means one of the GPs, not all. The rest of the world doesn't make that distinction, so it's unclear what is being referred to in these various iterations.
Joe MacDonald December 11, 2012 at 03:46 PM
James, I just visited the Coldwell Banker site via the link and their definition of "Grosse Pointe" also includes Harper Woods. That inclusion would have a significant impact on any housing data reported by Coldwell Banker for "Grosse Pointe."
James Gerardi December 11, 2012 at 03:55 PM
Would it ever! Proving once again that to folks who aren't from here "Grosse Pointe" is more of a concept than a defined place. They have no exact idea of the structure. Since Harper Woods is contiguous, it gets included.
Savvy Shopper December 11, 2012 at 06:52 PM
You can call these numbers wrong or misguided but the larger issue is that they are being published and potential buyers are being misled and potentially lost to the west-side.
Joe MacDonald December 11, 2012 at 07:54 PM
Savvy Shopper, your assessment may be correct and such misleading information would be unfortunate. However, I would like to think that a savvy home shopper would do their own research and not rely exclusively on the information provided in Coldwell Banker's report. Just as they define "Grosse Pointe" as including communities that are not part of Grosse Pointe (i.e. Harper Woods), Coldwell Banker may have grouped other dissimilar communities together under a single community's name just because they are proximal to one another. As an example, consider the information provided by Coldwell Banker for "Berkley." The table provided in this article lists the average value of a 4-bedroom, 2-bathroom home in Berkley as just north of $285,000. However, when you go to zillow.com, the average home value in Berkley in October 2012 was only $118,000. Of the 108 homes currently listed for sale in Berkley, only 5 are actually listed for more than $285,000 and, of these, none are above $300,000. It is possible that Coldwell Banker may define "Berkley" as including other, more affluent communities that are adjacent to Berkley (e.g. Pleasant Ridge, Huntington Woods, Beverly Hills). Another possible caveat to the data provided by Coldwell Banker is that a 4-bedroom, 2-bathroom home may not be representative of the typical housing stock in a community. Coldwell Banker's value of 4-bedroom, 2-bathroom homes for a particular community may be skewed if few of those homes actually exist.
Toni Stinson December 12, 2012 at 10:59 AM
James please re-read the Community Description for Grosse Pointe in the survey--it says, "nearby" cities and towns include Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe Woods, Harper Woods and Village of Grosse Pointe Shores--not that it includes those cities in the analysis. If you click on each one of those cities, it has a community break down for each of them. The survey only included the City of Grosse Pointe, not all the Pointes--unfortunately. Thanks, Toni
Toni Stinson December 12, 2012 at 11:00 AM
Please see my comment above. The data does not include Harper Woods. Thanks, Toni
Toni Stinson December 12, 2012 at 11:03 AM
The survey does not lump all the Grosse Pointes together, rather only includes the City of Grosse Pointe--which is unfortunate. In the community description, Coldwell Banker states, "...NEARBY cities and towns include Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe Woods, Harper Woods and Village of Grosse Pointe Shores." It lists the population of Grosse Pointe as 5,196--which is only the population of GPC--not all the others combined. Thanks, Toni
Joe MacDonald December 12, 2012 at 05:46 PM
(continued from today's previous post). According to Zillow.com, there are currently 32 listings in Grosse Pointe, 108 listings in Berkley, and 348 listings in Sterling Heights. Of these, only one listing in Grosse Pointe is a four-bedroom, two-bathroom home. Only four such homes are currently listed in Berkley and only 19 such homes are currently listed in Sterling Heights. The only current four-bedroom, two-bathroom home listed in Grosse Pointe is priced at $295,000. The average listing price for the four four-bedroom, two-bathroom homes in Berkley is $198,450. The average listing price for the 19 four-bedroom, two-bathroom homes in Sterling Heights is $157,279. Such small sample sizes of listings means that even a couple of changes in listings during the study period may dramatically change the average listing price for four-bedroom, two-bathroom homes in any community. This is a not a very accurate measure of community real estate and will certainly not be useful to me when I go on the market to purchase my first home next year. The full table of Michigan communities in the Coldwell Banker report also provides links to available listings for each community. However, when you click the link for "Available Homes" under Grosse Pointe, there are only five listings provided. None are in Grosse Pointe; four listings are in other GP communities and one listing is in Brooklyn, a small town south of Jackson, Michigan. The same link for Berkley yields zero available listings.
Joe MacDonald December 20, 2012 at 09:15 PM
Zillow.com recently updated their average housing values for Michigan communities to reflect November 2012 data. Here are November 2012 average housing values for each of the Grosse Pointe communities and their neighbors: Grosse Pointe Shores: $385,000 Grosse Pointe Park: $224,000 Grosse Pointe Farms: $221,000 Grosse Pointe City: $208,000 Grosse Pointe Woods: $145,000 St. Clair Shores: $79,000 Harper Woods: $42,000 Detroit: $29,000

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