Is Oakland Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oakland Charter Township has remained a Seller's Market.
Key Takeaway
Oakland Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakland Charter Township, MI
How much do homes in Oakland Charter Township, MI cost?
Median Sold Price
$596,500
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oakland Charter Township have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Oakland Charter Township was $596,500 in April 2024, up 1.1% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $260K | $287.5K | +10.6% |
| 3 Bedrooms | $450K | $500K | +11.1% |
| 4 Bedrooms | $650K | $700K | +7.7% |
| 5+ Bedrooms | $878.7K | $1.0M | +14.4% |
Summary: Oakland Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Cities
| Oakland | $600K | $725K | +20.8% |
| Rochester Hills | $396.1K | $410.6K | +3.7% |
| Washington | $420K | $427.6K | +1.8% |
| Oakland Charter Township | $590K | $596.5K | +1.1% |
| Orion Charter Township | $376.5K | $373.1K | -0.9% |
Housing Supply in Oakland Charter Township, MI
How many homes are available in Oakland Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 66 | 62 | -6.1% |
Summary: The Oakland Charter Township real estate market had 62 homes for sale in April 2024, a 6.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 29 | 24 | -17.2% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Oakland Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 16 | -20.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland Charter Township, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Oakland Charter Township in April 2024, down by 20.0% month-over-month. Of the 16 sold homes, 56% were sold under asking, 19% were sold at asking, and 25% were sold over asking.
Days on Market for Oakland Charter Township, MI
How long does it take to sell a home in Oakland Charter Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 126 Days | 30 Days | -75.6% |
Summary: Homes in Oakland Charter Township had an average of 30 days on market in Apr 2024, down by 75.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oakland Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Oakland Charter Township; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% 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. Copyright MiRealSource.