Royal Oak, MI Foreclosures
How much do homes sell for in Royal Oak, MI?
The average home price is currently $378,133.
In Royal Oak, MI, how many homes are available?
There are currently 69 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 $6,118,954.
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, Michigan is a vibrant city known for its rich history and lively atmosphere. Its downtown area features a mix of trendy shops, restaurants, and nightlife options, making it a popular destination for both residents and visitors. The city is also home to a variety of parks and recreation options, offering a balanced lifestyle for families and young professionals alike.
Current Market Conditions in Royal Oak, MI
The Royal Oak real estate market remains competitive, with a mix of historic homes, modern condos, and new developments drawing interest from a diverse range of buyers including families, young professionals, and retirees. Prices have seen steady appreciation, as the demand for housing in suburban areas continues to grow, fueled by the proximity to urban amenities and green spaces.
Overall, homes in Royal Oak are selling quickly, with average days on the market decreasing as buyer interest rises. The trend towards home renovations and improvements reflects a desire for personalized living spaces, while new listings continue to capture attention, especially those close to downtown.
Home Value Estimator For Royal Oak, MI
There are currently 24,376 real estate properties
in Royal Oak, MI,
with a median automated valuation model (AVM) price
of $344,700.00. 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 $378,133.00, with the most expensive house
in Royal Oak, MI, topping out
at $6,118,954.00 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
