Coming soon
$4,144 Closing Credit¹
John Hawthorne, Erick Monzo, Listing Office: Keller Williams Realty-Great Lakes
Royal Oak Housing Market Report December 2024•Oakland County, Michigan
Housing Prices in Royal Oak, MI
How much do homes in Royal Oak, MI cost?
Housing Market Conditions
Is Royal Oak, MI a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Royal Oak is a Seller's Market
Difference Since December 2023
Since last year, Royal Oak has remained a Seller's Market.
Insight
Royal Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$347,343$218/SqFt
+$7,343
+2.2%
Based on all homes sold in the last 12 months
Insight
Homes in Royal Oak have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Royal Oak was $347,343 in December 2024, up 2.2% from last year, and the median price per square foot was $218.
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $121.9K | $127.4K | +4.6% |
| 22 Bedrooms | $247K | $274.2K | +11.0% |
| 33 Bedrooms | $340.6K | $350K | +2.7% |
| 44 Bedrooms | $472K | $515K | +9.1% |
| 55+ Bedrooms | $750.5K | $770K | +2.6% |
Summary: Royal Oak housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +4.6%. The home price for 2 bedroom homes increased by +11.0%. The home price for 3 bedroom homes increased by +2.7%. The home price for 4 bedroom homes increased by +9.1%. The home price for 5 bedroom homes increased by +2.6%.
Housing supply in Royal Oak, MI
How many homes are available in Royal Oak, MI?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 260Last MonthDec 2024 | ||
| 2902 months agoNov 2024 | -10.3 % Change MoMNov – Dec |
Summary: The Royal Oak real estate market had 260 homes for sale in Dec 2024, a 10.3 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 97Last MonthDec 2024 | ||
| 912 months agoNov 2024 | +6.6 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 19 | 12 | -36.8% |
| 22 Bedrooms | 52 | 49 | -5.8% |
| 33 Bedrooms | 162 | 146 | -9.9% |
| 44 Bedrooms | 44 | 44 | 0.0% |
| 55+ Bedrooms | 13 | 9 | -30.8% |
Summary: Royal Oak housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -36.8%. The inventory for 2 bedroom homes decreased by -5.8%. The inventory for 3 bedroom homes decreased by -9.9%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -30.8%.
Asking Price vs. Sold Price
How much do homes in Royal Oak, MI cost?
Over Asking Price33 Homes
At Asking Price18 Homes
Under Asking Price46 Homes
Insight
If you're buying a home in Royal Oak, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 97 homes were sold or pending in Royal Oak in December 2024, up by 6.6% month-over-month. Of the 97 sold homes, 47% were sold under asking, 19% were sold at asking, and and 34% were sold over asking.
Days on Market for Royal Oak, MI
How long does it take to sell a home in Royal Oak, MI?
Breakdown of Home Sale Times
Under 30 Days73 Homes
30 – 90 Days20 Homes
Over 90 Days4 Homes
Insight
Many homes in Royal Oak are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 97 homes were sold in Royal Oak; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 21 DaysThis YearDec 2024 | ||
| 20 Days1 year agoDec 2023 | +9.5 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Royal Oak had an average listing age of 21 days in Dec 2024, up by 9.5% compared to the previous year.
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Newest Listings in Royal Oak, MI
What homes are available in Royal Oak, MI?
New - 14 hours on Rocket
$7,718 Closing Credit¹
Katherine E Broock, Crystal Marsh, Listing Office: Max Broock, REALTORS®-Birmingham, @properties Christies Intl R.E. Birmingham
New - 14 hours on RocketBackup offers
$2,969 Closing Credit¹
Robert Kobylas, Listing Office: Premier Realty Centers LLC
New - 15 hours on Rocket
$4,453 Closing Credit¹
Rebecca A Katzman-McCarthy, Listing Office: National Realty Centers, Inc
New - 16 hours on Rocket
$2,945 Closing Credit¹
Sandra Mazzarantani, Listing Office: Real Broker LLC
New - 1 day on Rocket
$5,213 Closing Credit¹
Karen Dafoe, Nicholas Dafoe, Listing Office: Epique Realty
New - 1 day on Rocket
$4,631 Closing Credit¹
Joshua L Wright, Listing Office: Keller Williams Paint Creek
Coming soon
$3,652 Closing Credit¹
James B Saros, Listing Office: Jim Saros Real Estate Services
New - 1 day on Rocket
$4,216 Closing Credit¹
#50164735, Sandra Weber, Listing Office: Real Estate One Chesterfield
New - 1 day on Rocket
$5,332 Closing Credit¹
Christian J Grothe, Dimitrios Kosmidis, Listing Office: Max Broock, REALTORS®-Birmingham
Coming soon
$4,630 Closing Credit¹
Amit Hingorani, Listing Office: Real Estate One-W Blmfld
New - 2 days on Rocket
$4,988 Closing Credit¹
Nayeem Amin, Listing Office: Max Broock, REALTORS®-Birmingham
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MLS Disclaimers and Copyright
Based on information from RealComp II Ltd., and MiRealSource Inc. DL for the period 01/01/2023 - 01/01/2025
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:21:06 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:21:06 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.