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 May 2023
Since last year, Oakland Charter Township has remained a Seller's Market.
Housing Prices in Oakland Charter Township, MI
How much do homes in Oakland Charter Township, MI cost?
Median Sold Price
$600,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Oakland Charter Township was $600,000 in May 2024, up 0.8% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $257K | $290K | +12.8% |
3 Bedrooms | $472.5K | $504K | +6.7% |
4 Bedrooms | $680K | $686.2K | +0.9% |
5+ Bedrooms | $930K | $937.5K | +0.8% |
Summary: Oakland Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
Oakland | $657.5K | $680K | +3.4% |
Rochester Hills | $403.1K | $408.9K | +1.4% |
Oakland Charter Township | $595K | $600K | +0.8% |
Washington | $429.5K | $425K | -1.1% |
Orion Charter Township | $383.8K | $377K | -1.8% |
Housing Supply in Oakland Charter Township, MI
How many homes are available in Oakland Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 84 | +33.3% |
Summary: The Oakland Charter Township real estate market had 84 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 6 | -33.3% |
3 Bedrooms | 11 | 17 | +54.5% |
4 Bedrooms | 25 | 41 | +64.0% |
5+ Bedrooms | 18 | 20 | +11.1% |
Summary: The Oakland Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 54.5%, 4 bedroom homes increased by 64%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 21 | +31.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Oakland Charter Township in May 2024, up by 31.3% month-over-month. Of the 21 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 33 Days | +45.2% |
Summary: Homes in Oakland Charter Township had an average of 33 days on market in May 2024, up by 45.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Oakland Charter Township; 76% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.