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.

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.

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.

🤸 Things to do

📈 Market Highlights

The Oakland County Real Estate Market is still a seller’s market. While the trend has been focusing on the shortage of houses for sale in Metro Detroit, the number of homes sold in Oakland County increased from last month’s 1,231 single-family homes sold to 1,282 for April 2018. This is a decrease of -7.5% from last year.

There were 271 condo homes sold in Oakland County, up 9.7% year-over-year from April 2017.

The Oakland County median sales price increased 7.0% from April 2017 to $252,950 with single-family homes sales averaging $305,323 during April 2018.

🏡 Recent Homes Sales

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

Find Out What Your Home is Worth Now – FREE INSTANT HOME CALCULATOR

Active Listing Volume

Month Active Listings, $ Volume
Jan $1,694,103,413
Feb $1,688,842,063
Mar $1,805,145,604
Apr $1,993,648,728

 

Month Active Listings, Number of
Jan 3,895
Feb 3,731
Mar 3,701
Apr 3,983

Close Price to List Price Ratio

Month Close Price to List Price Ratio
Jan 98.7%
Feb 98.5%
Mar 99.9%
Apr 100.0%

Average Days to Sell

Month Days to Sell, Average
Jan 40
Feb 45
Mar 40
Apr 34

Expired Listings

Month Expired Listings, Number of
Jan 2,787
Feb 2,465
Mar 2,641
Apr 2,506

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 2,506 expired listings in April 2018.
There were 2,506 listings that ran out of their contract at the end of April 2018.

List Price by Sq Ft Ratio

Month List Price by SqFt Ratio
Jan $131
Feb $137
Mar $149
Apr $150

 

Average List Price

Month List Price, Average
Jan $302,812
Feb $319,464
Mar $352,382
Apr $350,634

 

Median List Price

Month List Price, Median
Jan $229,900
Feb $234,900
Mar $259,900
Apr $275,000

 

Months of Inventory

Month Months of Inventory
Jan 3
Feb 3
Mar 2
Apr 2

 

Number of New Listings

Month Number of New Listings
Jan 2,190
Feb 2,123
Mar 3,108
Apr 3,265

 

Median Sales Price

Month Sale Price, Median
Jan $180,000
Feb $183,500
Mar $195,000
Apr $210,000

 

Sales Volume

Month Sales, $ Volume
Jan $280,958,935
Feb $304,981,224
Mar $421,785,414
Apr $454,296,639

 

Total Sales

Month Sales, Number of
Jan 1,303
Feb 1,362
Mar 1,815
Apr 1,907

 

Recent Listings in Oakland County

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

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