Royal Oak, MI 48067 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market indicator, the median sold price, is 368,000, signaling recent transaction values that buyers are paying in Royal Oak; alongside a median listing price of 437,333, this gap suggests measurable pricing friction between asking and achieved prices and may indicate seller price adjustments.
2. Market temperature is hot, supported by a positive price year-over-year trend and a rising rent trend; this combination, with the median sold price at 368,000, suggests continued demand strength for SFR and condo product in the area and up pressure on achievable pricing.
3. Liquidity appears muted on velocity metrics: the median days on market is 279, which indicates slower sales velocity relative to a typical fast-turning market and slower transaction volume that may prolong time to contract even with a hot market temperature.
4. Interest rate pressure is moderate (current 30-year fixed mortgage rates cited at 6.69%, modestly above the year-to-date average), which, when combined with a median market rent of 2,250 and a median price per square foot of 264, suggests investors and owner-occupiers should weigh financing cost sensitivity; moderate interest-rate headwinds may temper aggressive bidding.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.