Inventory in Grandmont 1 has tightened notably in this rolling three-month snapshot, with active listings down about 41% year over year and only seven homes on the market. Even with fewer options, homes are taking longer to sell, as median days on market have jumped sharply compared to last year to around four weeks. Contract flow has cooled, with homes sold and pending sales both down more than 80% from a year ago, indicating lighter overall activity.
Home values have moved higher despite the slowdown in sales. The typical home value is up roughly 9% year over year, and the median list price has surged nearly 50% over the same period, signaling stronger seller pricing expectations. Compared with Detroit overall, Grandmont 1’s typical home value is more than double the broader city’s median, underscoring its higher price point within the local market.
Even with higher asking prices, buyers currently have more leverage, as months of supply have risen steeply to about 12.7, placing Grandmont 1 firmly in buyer’s market territory. Few properties are selling above list, and the average sale-to-list ratio is just under 100%, suggesting sellers are negotiating more than in past years. To navigate these shifting conditions, both buyers looking for value and sellers aiming to price smartly can benefit from Agent Pronto’s help in finding the right local real estate agent.
