Tabletop has rocks and plant next to a yellow piece of paper with the words market report spelled out beneath a magnifying glass, and more words on the table spell out Oakland County Norber Real Estate Group Housing Market News.

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In this Oakland County Market Report, you’ll find the average home price, months of inventory, list to close ratio, average prices per square foot, the total number of sales and listings, volume of sales and listings and more information you might use in a real estate decision for the area. Please call Joshua Norber Team at 248-785-3737 to buy or sell real estate in Oakland County or Metro Detroit.

You can view the entire Metro Detroit Real Estate Market Report Here.

Demographics

Oakland County, Michigan encompasses 907 square miles and is home to 1.242 million people as of 2015. With hundreds of lakes and waterways, Oakland County offers excellent waterfront living, all sports lakes, lake access and canal housing along with a myriad of outdoor and water-based activities. Oakland County is the highest-income Michigan location by per capita income.

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Market Highlights

The Oakland County Real Estate Market has continued to decrease the number of homes for sale while buyer demand remains strong. This resulted in 1,231 single family homes sold for March 2018, and 384 condominiums sold. This is a -5.5% decrease in homes sold and -4.4% increase in condos. Oakland County median price range increased 4.4% from March 2017 to $250,500 with single-family homes sales averaging $302,401 during March 2018.

Recent Homes Sales

For more information on recent home sales in Oakland County, contact Joshua Norber or call 248.785.3737.

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Active Listing Volume

Month Active Listings, $ Volume
Jan $1,687,831,491
Feb $1,680,599,785
Mar $1,789,703,755
Month Active Listings, Number of
Jan 3,873
Feb 3,701
Mar 3,625

Close Price to List Price Ratio

Month Close Price to List Price Ratio
Jan 98.7%
Feb 98.5%
Mar 99.7%

Average Days to Sell

Month Days to Sell, Average
Jan 40
Feb 45
Mar 40

Expired Listings

Month Expired Listings, Number of
Jan 2,786
Feb 2,465
Mar 2,645

How does a listing expire in a Seller’s Market?

There are many reasons that cause homes not to sell. There could be competition in the neighborhood that is priced more attractive or that shows better. Sometimes the best features of a home are not highlighted, and this means missed opportunities. Homes with pets or renters can present a host of problems. I find in many of our Metro Detroit areas that homes that are not updated or cluttered are very common.

If you’ve had your home for sale and you’re frustrated not selling it, the most likely answer is you need a more experienced agent. Let Joshua Norber know right away or call 248.785.3737 now.

Oakland County Expired Listings Graph shows 2,645 expired listings in March 2018.

List Price by Sq Ft Ratio

Month List Price by SqFt Ratio
Jan $131
Feb $138
Mar $149

Average List Price

Month List Price, Average
Jan $302,914
Feb $319,969
Mar $354,343

Median List Price

Month List Price, Median
Jan $229,500
Feb $234,900
Mar $259,900

Months of Inventory

Month Months of Inventory
Jan 3
Feb 3
Mar 2

Number of New Listings

Month Number of New Listings
Jan 2,201
Feb 2,127
Mar 3,113

Median Sales Price

Month Sale Price, Median
Jan $179,900
Feb $184,750
Mar $195,000

Sales Volume

Month Sales, $ Volume
Jan $279,327,683
Feb $305,198,674
Mar $413,123,014

Total Sales

Month Sales, Number of
Jan 1,297
Feb 1,362
Mar 1,787

Recent Listings in Oakland County

If you enjoyed the April Oakland County Market Report, you may like the April 2018 Market Report for Metro Detroit.

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