Royal Oak, MI 48067 Real Estate Market Report

ZIP Code: 48067
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Royal Oak, MI is currently $319,900, reflecting a competitive market despite a year-over-year decrease. This indicates a down trend in pricing, suggesting that buyers may be facing some pricing friction as they navigate the market. The elevated median days on market at 232 days indicates a slower sales velocity, which may suggest a shift in buyer sentiment or increased inventory levels relative to sales activity.

Overall, the market remains hot, with a strong demand for properties, yet the increase in days on market and the down trend in sold prices may indicate a need for sellers to adjust their expectations. The rental market is also experiencing upward pressure, with a median market rent of $2,070, supported by positive local economic growth and job expansion in Oakland County.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The median sold price has decreased year-over-year, indicating potential pricing friction for buyers in the market.

2. With 232 days on the market, properties are experiencing slower sales velocity, suggesting a shift in buyer engagement.

3. The median market rent is $2,070, reflecting a growing demand for rental properties amid local economic growth.

4. The market is currently characterized as hot, indicating strong buyer interest despite some pricing adjustments needed.

5. Elevated inventory levels may be contributing to the down trend in median sold prices, suggesting a potential oversupply relative to sales.

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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.