Is Oakland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2021
Since last year, Oakland has remained a Seller's Market.
Key Takeaway
Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Oakland, MI cost?
Median Sold Price
$615,408
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2021
+$20,408(+3.4%)
Key Takeaway
Homes in Oakland have sold for 3.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2021 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | - | $117.5K | N/A |
| 2 Bedrooms | $375K | $170K | -54.7%  |
| 3 Bedrooms | $400.5K | $400K | -0.1% |
| 4 Bedrooms | $585K | $657.5K | +12.4% |
| 5+ Bedrooms | $707.5K | $785K | +11.0% |
Median Sold Price Compared To Nearby Cities
| % | |
|---|---|
| Orion Charter Township | +14.2% |
| Oakland Charter Township | +9.2% |
| Addison Township | +8.7% |
| Washington | +3.9% |
| Oakland | +3.4% |
How many homes are available in Oakland, MI?
Number of Homes For Sale
| Apr 2022 | May 2022 | % |
|---|---|---|
| 29 | 31 | +6.9% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2022 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 15 | 12 | -20.0%  |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Number of Homes Sold
| Apr 2022 | May 2022 | % |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Average Sale Time
| May 2021 | May 2022 | % |
|---|---|---|
| 44 Days | 16 Days | -63.6% |
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakland are selling fast, if you're buying plan to act quickly.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 