Is Oakland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
At the same time last year, Oakland was a Seller's Market.
Housing Prices
How much do homes in Oakland, MI cost?
Median Sold Price
$693,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in Oakland was $693,500 in August 2023, up 13.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $170K | $210K | +23.5% |
3 Bedrooms | $430K | $356K | -17.2% |
4 Bedrooms | $683.5K | $780K | +14.1% |
5+ Bedrooms | $785K | $955K | +21.7% |
Summary: Oakland housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.5%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 21.7%.
Median Sold Price Compared To Nearby Cities
Oakland | $611.6K | $693.5K | +13.4% |
Orion Charter Township | $358.9K | $370K | +3.1% |
Washington | $430K | $430K | 0.0% |
Oakland Charter Township | $587.5K | $579.4K | -1.4% |
Addison Township | $435K | $355K | -18.4% |
Housing Supply
How many homes are available in Oakland, MI?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
27 | 22 | -18.5% |
Summary: The Oakland real estate market had 22 homes for sale in August 2023, a 18.5% decrease compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 6 | 8 | +33.3% |
4 Bedrooms | 12 | 10 | -16.7% |
5+ Bedrooms | 9 | 4 | -55.6% |
Summary: The Oakland housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 55.6%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
9 | 1 | -88.9% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Oakland in August 2023, down by 88.9% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market
How long does it take to sell a home in Oakland, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During August 2023, 1 homes were sold in Oakland; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.