Is Oakland, MI a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Oakland is a buyer's market


Difference Since August 2022

At the same time last year, Oakland was a Seller's Market.

Key Takeaway

Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices

How much do homes in Oakland, MI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Oakland have sold for 13.4% more than they did a year ago.

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

# BEDSAug 2022Aug 2023CHANGE
1 --
2 $170K$210K
3 $430K$356K
4 $683.5K$780K
5+ $785K$955K

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

Orion Charter Township
Oakland Charter Township
Addison Township

Housing Supply

How many homes are available in Oakland, MI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

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

# BEDSJul 2023Aug 2023CHANGE
1 00
2 00
3 68
4 1210
5+ 94

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 2023Aug 2023CHANGE

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oakland, you could pay more than the asking price. 100% of homes here sold above asking price last month.

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Oakland are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

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Nearby Markets

What housing markets are near Oakland, MI?