Royal Oak, MI Foreclosures
How much do homes sell for in Royal Oak, MI?
The average home price is currently $384,525.
In Royal Oak, MI, how many homes are available?
There are currently 11 active home listings available in Royal Oak.
What’s the average rental cost in Royal Oak, MI?
The average rental price in Royal Oak is $1,684.
What is the most expensive home in Royal Oak?
The most expensive home sold in Royal Oak had a price of $6,213,517.
What is currently the cheapest priced home in Royal Oak, MI?
The cheapest home for sale in Royal Oak is priced at $46,071.
Living in Royal Oak, MI
Royal Oak, MI, is a dynamic community with a rich cultural scene and a variety of amenities, making it a desirable location for families and young professionals alike. With easy access to public transportation and major highways, commuting is a breeze. The city prides itself on its excellent schools and recreational opportunities, ensuring there’s something for everyone.
Current Market Conditions in Royal Oak, MI
The real estate market in Royal Oak, MI, is currently experiencing a strong demand, leading to a competitive environment for buyers. Home prices have seen a steady increase this year driven by the city's growing popularity and limited inventory. Neighborhoods that offer walkability and access to amenities are particularly sought after, attracting a mix of families and young professionals.
In the last month, there has been a slight dip in listings, but this has not deterred buyers, as homes are still selling at a rapid pace. The seasonal spring market is anticipated to bring more activity, particularly as local interest in home ownership continues to rise.
Home Value Estimator For Royal Oak, MI
There are currently 24,378 real estate properties
in Royal Oak, MI,
with a median automated valuation model (AVM) price
of $348,782.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Royal Oak, 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 Royal Oak, MI,
is $384,525.00, with the most expensive house
in Royal Oak, MI, topping out
at $6,213,517.00 and the cheapest home
in Royal Oak, MI,
clocking in at $46,071.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Royal Oak, MI!
Rent Prices
In Royal Oak, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Royal Oak, MI, is on
a rollercoaster ride. The
average rent price in Royal Oak, MI,
is $1,684.00. Indeed, when looking to rent in
Royal Oak, MI, you can expect to pay as little
as $600.00 or as much
as $3,140.00,
with the average rent median estimated to
be $1,620.00. The good news is that finding
an affordable and desirable property to rent in Royal Oak, 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
