Is Oakland County, 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 County has remained a Seller's Market.
Housing Prices in Oakland County, MI
How much do homes in Oakland County, MI cost?
Median Sold Price
$334,387
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Oakland County was $334,387 in April 2024, up 3.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $120.6K | +9.7% |
2 Bedrooms | $201.2K | $214.5K | +6.6% |
3 Bedrooms | $293.9K | $311K | +5.8% |
4 Bedrooms | $470K | $490.2K | +4.3% |
5+ Bedrooms | $648.5K | $683.1K | +5.3% |
Summary: Oakland County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Counties
Macomb County | $226.5K | $239.9K | +5.9% |
Washtenaw County | $369.7K | $390.1K | +5.5% |
Livingston County | $348.9K | $364.8K | +4.5% |
Oakland County | $322.3K | $334.3K | +3.7% |
Wayne County | $179.7K | $181K | +0.7% |
Housing Supply in Oakland County, MI
How many homes are available in Oakland County, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3,273 | 3,802 | +16.2% |
Summary: The Oakland County real estate market had 3,802 homes for sale in April 2024, a 16.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 61 | 72 | +18.0% |
2 Bedrooms | 643 | 704 | +9.5% |
3 Bedrooms | 1,426 | 1,672 | +17.3% |
4 Bedrooms | 918 | 1,084 | +18.1% |
5+ Bedrooms | 225 | 270 | +20.0% |
Summary: The Oakland County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,055 | 1,097 | +4.0% |
Asking Price vs. Sold Price
378 Homes Were Sold
Under Asking
171 Homes Were Sold
At Asking
547 Homes Were Sold
Over Asking
Summary: A total of 1,097 homes were sold or pending in Oakland County in April 2024, up by 4.0% month-over-month. Of the 1,096 sold homes, 34% were sold under asking, 16% were sold at asking, and 50% were sold over asking.
Days on Market for Oakland County, MI
How long does it take to sell a home in Oakland County, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
63 Days | 25 Days | -59.2% |
Summary: Homes in Oakland County had an average of 25 days on market in Apr 2024, down by 59.2% compared to last year.
Breakdown of Home Sale Times
875 Homes Were Sold
Under 30 Days
143 Homes Were Sold
In 30 - 90 Days
78 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1097 homes were sold in Oakland County; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.