$5,224 Closing Credit*
$439,900
1,576 SqFt
5 Beds
•3 Full Baths
Brie Cocroft, Listing Office: Max Broock, REALTORS-Royal Oak
Is Royal Oak Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Royal Oak Charter Township has remained a Seller's Market.
Key Takeaway
Royal Oak Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Royal Oak Charter Township, MI
How much do homes in Royal Oak Charter Township, MI cost?
Median Sold Price
$341,140
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$11,340(+3.4%)
Key Takeaway
Homes in Royal Oak Charter Township have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Royal Oak Charter Township was $341,140 in September 2024, up 3.4% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $124K | +12.7% |
| 2 Bedrooms | $248.9K | $256.2K | +2.9% |
| 3 Bedrooms | $330K | $344.7K | +4.5% |
| 4 Bedrooms | $456K | $475.5K | +4.3% |
| 5+ Bedrooms | $720K | $802.5K | +11.5% |
Summary: Royal Oak Charter Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 11.5%.
Housing Supply in Royal Oak Charter Township, MI
How many homes are available in Royal Oak Charter Township, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 294 | 331 | +12.6% |
Summary: The Royal Oak Charter Township real estate market had 331 homes for sale in September 2024, a 12.6% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 16 | -5.9% |
| 2 Bedrooms | 52 | 64 | +23.1% |
| 3 Bedrooms | 168 | 183 | +8.9% |
| 4 Bedrooms | 47 | 55 | +17.0% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Royal Oak Charter Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 98 | 83 | -15.3% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Royal Oak Charter Township, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 83 homes were sold or pending in Royal Oak Charter Township in September 2024, down by 15.3% month-over-month. Of the 83 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% were sold over asking.
Days on Market for Royal Oak Charter Township, MI
How long does it take to sell a home in Royal Oak Charter Township, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 16 Days | 24 Days | +49.8% |
Summary: Homes in Royal Oak Charter Township had an average of 24 days on market in Sep 2024, up by 49.8% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Royal Oak Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 83 homes were sold in Royal Oak Charter Township; 70% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.