Is Oakwood, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Oakwood has remained a Seller's Market.
Key Takeaway
Oakwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakwood, MI
How much do homes in Oakwood, MI cost?
Median Sold Price
$175,000
$170/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Oakwood have sold for 5.7% more than they did a month ago.
Summary: The median home sold price in Oakwood was $175,000 in April 2024, up 5.7% from last month, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $165K | +3.1% |
| 3 Bedrooms | $164.5K | $175K | +6.4% |
| 4 Bedrooms | $190.5K | $235K | +23.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Oakwood housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 23.4%, and 5+ bedroom homes did not change.
Housing Supply in Oakwood, MI
How many homes are available in Oakwood, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The Oakwood real estate market had 10 homes for sale in April 2024, a 16.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Oakwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Oakwood in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Oakwood, MI
How long does it take to sell a home in Oakwood, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 1 Days | -85.8% |
Summary: Homes in Oakwood had an average of 1 days on market in Apr 2024, down by 85.8% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Oakwood; 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.
