Royal Oak, MI Housing Market
The Royal Oak housing market is very competitive. The median sale price of a home in Royal Oak was $347K last month, up 6.6% since last year. The median sale price per square foot in Royal Oak is $282, up 6.0% since last year.
Royal Oak Housing Market Trends
In March 2024, Royal Oak home prices were up 6.6% compared to last year, selling for a median price of $347K. On average, homes in Royal Oak sell after 25 days on the market compared to 13 days last year. There were 75 homes sold in March this year, down from 89 last year.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Royal Oak housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 1% above list price and go pending in around 16 days.
- Hot homescan sell for about 5% above list price and go pending in around 6 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for about 5% below list price and go pending in around 43 days.
- Hot homescan sell for around list price and go pending in around 15 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 2% above list price and go pending in around 12 days.
- Hot homescan sell for about 6% above list price and go pending in around 5 days.
Royal Oak Migration & Relocation Trends
- Across the nation, 0.73% of homebuyers searched to move into Royal Oak from outside metros.
- Los Angeles homebuyers searched to move into Royal Oak more than any other metro followed by Washington and New York.
- 78% of Royal Oak homebuyers searched to stay within the Royal Oak metropolitan area.
- Cape Coral was the most popular destination among Royal Oak homebuyers followed by Grand Rapids and Saginaw.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 369 | ||
2 | 345 | ||
3 | 322 | ||
4 | 287 | ||
5 | 205 | ||
6 | 137 | ||
7 | 94 | ||
8 | 92 | ||
9 | 79 | ||
10 | 68 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 258 | ||
2 | 183 | ||
3 | 145 | ||
4 | 141 | ||
5 | 113 | ||
6 | 112 | ||
7 | 103 | ||
8 | 81 | ||
9 | 81 | ||
10 | 69 |
Home offer insights for Royal Oak
Recent offers
View houses in Royal Oak that sold recently
Recently sold homes
- $307,000 Last Sold Price2 beds1.5 baths868 sq ft1325 S Washington Ave, Royal Oak, MI 48067List Price$280,000Sale to List10% over listDays on Market14 days1325 S Washington Ave, Royal Oak, MI 48067
- $255,000 Last Sold Price3 beds1 bath960 sq ft4234 Hampton Blvd, Royal Oak, MI 48073List Price$215,000Sale to List19% over listDays on Market16 days4234 Hampton Blvd, Royal Oak, MI 48073
- $410,000 Last Sold Price3 beds2 baths1,140 sq ft1107 N Blair Ave, Royal Oak, MI 48067List Price$394,900Sale to List4% over listDays on Market13 days1107 N Blair Ave, Royal Oak, MI 48067
- $1,100,000 Last Sold Price4 beds4.5 baths3,200 sq ft3502 Linwood Ave, Royal Oak, MI 48073List Price$1,124,900Sale to List2% under listDays on Market21 days3502 Linwood Ave, Royal Oak, MI 48073
- $392,000 Last Sold Price4 beds2 baths1,520 sq ft4223 Normandy Rd, Royal Oak, MI 48073List Price$389,000Sale to List1% over listDays on Market78 days4223 Normandy Rd, Royal Oak, MI 48073
- $200,000 Last Sold Price2 beds1 bath775 sq ft3904 Durham Rd, Royal Oak, MI 48073List Price$210,000Sale to List5% under listDays on Market63 days3904 Durham Rd, Royal Oak, MI 48073
- $235,000 Last Sold Price3 beds1 bath866 sq ft1516 WYANDOTTE Ave, Royal Oak, MI 48067 3338(248) 590-0800List Price$249,900Sale to List6% under listDays on Market96 days1516 WYANDOTTE Ave, Royal Oak, MI 48067 3338
- $222,500 Last Sold Price2 beds1 bath853 sq ft2417 Kalama, Royal Oak, MI 48067List Price$219,900Sale to List1% over listDays on Market46 days2417 Kalama, Royal Oak, MI 48067
See all recently sold homes in Royal Oak.
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Schools in Royal Oak
- Elementary
- Middle
- High
GreatSchools Rating
8/10 Alfred E. Upton Elementary School Public • K-5 | 288 Students | 10 reviews |
8/10 Northwood Elementary School Public • K-5 | 458 Students | 8 reviews |
8/10 Burton Elementary School Public • K-5 | 474 Students | 5 reviews |
8/10 Oak Ridge Elementary School Public • K-5 | 433 Students | 9 reviews |
7/10 Addams Elementary Public • PreK-5 | 443 Students | 15 reviews |
Climate's impact on Royal Oak housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Royal Oak.
Flood Factor - Moderate
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Minimal
Wind Factor
Heat Factor - Minor
Heat Factor
Transportation in Royal Oak
Walk Score®
Bike Score®
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