Reasons to Move to Oakland County, MI
Prospective homebuyers are clearly taking advantage of the current interest rates and numerous government assistance programs. These interest rates mean homebuyers in Oakland County can now afford much more house for the same monthly payment compared to when rates are higher. Motivated and opportunistic sellers in Oakland County can field multiple offers from more qualified buyers, making it a dynamic market for both buyers and sellers.
What type of property to buy in Oakland County,
Our extensive database in Oakland County includes 116 preforeclosures, foreclosure auction properties, bankruptcies, REOs (real estate owned by lenders), and properties from HUD, VA, Fannie Mae, and other government agencies in Oakland County. We also feature listings from over 100 corporate sellers. Our information is updated daily, sourced directly from these entities, ensuring you receive the freshest and most accurate data. This meticulously compiled and organized collection makes your search as straightforward as possible. Only www.foreclosure.com offers this unparalleled, trustworthy resource, backed by our commitment to providing expert, authoritative, and up-to-date information. Visit our FAQ section to read more about the different listing types and how to purchase them.
Pros and Cons of Living in Oakland County, MI
How do you know that living in—or moving to— Oakland County is the right choice for you? Perhaps you grew up in Oakland County or already live nearby, making the decision to buy a home here a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Oakland County for work or just looking for a fresh start, understanding the neighborhood from afar (online) can be challenging and exhausting.
Here are some expert tips to consider when shopping for foreclosed homes for sale in Oakland County:
- Neighborhood Environment: Do you prefer a suburban, urban, or rural setting?
- Shopping and Dining: What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local), and businesses (small, big, mixed) would you like nearby?
- Leisure Activities: What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
- Commute: What type of commute (car, plane, home office) suits your lifestyle?
Creating a "Pros vs. Cons" list of what you need in a home and neighborhood is always a helpful step in making an informed decision. With expert insights and up-to-date market data from foreclosure.com, you can confidently explore the opportunities in Oakland County, .
Southfield, MI Foreclosures
How much do homes sell for in Southfield, MI?
The average home price is currently $265,907.
In Southfield, MI, how many homes are available?
There are currently 116 active home listings available in Southfield.
What’s the average rental cost in Southfield, MI?
The average rental price in Southfield is $1,499.
What is the most expensive home in Southfield?
The most expensive home sold in Southfield had a price of $26,468,556.
What is currently the cheapest priced home in Southfield, MI?
The cheapest home for sale in Southfield is priced at $16,054.
Living in Southfield, MI
Southfield, MI is a vibrant city located in Oakland County, just north of Detroit. Known for its diverse population and business-friendly environment, Southfield offers a rich array of amenities including shopping, dining, and parks. With a strong focus on education and community services, it is a great place for families and professionals alike.
Current Market Conditions in Southfield, MI
In Southfield, the real estate market is currently experiencing a decline in inventory, leading to increased demand and rising home prices. The average days on the market for homes has decreased significantly, indicating a competitive market where buyers need to act quickly. The area remains attractive to first-time homebuyers due to its affordability relative to neighboring cities.
In recent months, there has been a noticeable increase in new condo developments and mixed-use residential projects, reflecting the growing interest in urban-style living within suburban settings. Investors are also showing interest in rental properties, as the demand for rental units continues to rise, further tightening the market.
Home Value Estimator For Southfield, MI
There are currently 22,461 real estate properties
in Southfield, MI,
with a median automated valuation model (AVM) price
of $259,993.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Southfield, MI, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Southfield, MI,
is $265,907.00, with the most expensive house
in Southfield, MI, topping out
at $26,468,556.00 and the cheapest home
in Southfield, MI,
clocking in at $16,054.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Southfield, MI!
Rent Prices
In Southfield, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Southfield, MI, is on
a rollercoaster ride. The
average rent price in Southfield, MI,
is $1,499.00. Indeed, when looking to rent in
Southfield, MI, you can expect to pay as little
as $640.00 or as much
as $3,300.00,
with the average rent median estimated to
be $1,460.00. The good news is that finding
an affordable and desirable property to rent in Southfield, MI
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
