Real Estate Market Update for Royal Oak, MI
Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was up 11% from one year earlier, and down 11% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just over 310-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 34%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 230-thousand dollars. The number of units sold decreased 9% year-over-year, and increased 1% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript

Map Information for Royal Oak, MI

Area Information for Royal Oak, MI
  • Population: 59,185
  • Median Age: 41.46 yr
  • Median Commute Time: 22 mins
  • Educational Climate*: 4
  • Sales Tax: 0%
  • Population Density: 5,021/sq mi
  • Population Change Since 2000: -1.46%
  • Closest Airport: Detroit Metro Wayne County
  • Closest College: Yeshiva Gedolah
  • Closest Jr. College: Oakland Cmnty College-royal Oak Campus
  • Median Household Income: $84,589
  • Annual Residential Turnover: 0%
  • Median Home Sales Price: $276,000
  • Closest Major Sports Team: Detroit Tigers
  • Change Avg. Household Income Since 2000: 64.95%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Royal Oak, MI
Median Age: 41.46 Married: 36% Number of Households: 29,063 Households with Children: 4,880
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Royal Oak, MI

      School Name Distance Type Grades School Rating
      Keller Elementary 0.5 mi Public PRESCHOOL-5 3
      Churchill Community Education Center 0.8 mi Public 10-12 0
      Royal Oak Middle School 0.8 mi Public 6-8 4
      Lessenger Elementary School 1.0 mi Public K-5 4
      Northwood Elementary School 1.1 mi Public K-5 5
      Oak Ridge Elementary School 1.2 mi Public K-5 4
      Keys Grace Academy Elementary 1.2 mi Public K-5 0
      St. Paul Lutheran School 1.2 mi Private PRESCHOOL-5 0
      St Mary Catholic School 1.4 mi Catholic PRESCHOOL-8 0
      Lamphere Learning Ladder 1.4 mi Public PRESCHOOL-PRESCHOOL 0
      Edmonson Elementary School 1.7 mi Public PRESCHOOL-5 2
      Lamphere High School 1.7 mi Public 9-12 3
      Oakland Elementary School 1.8 mi Public K-5 3
      Wilkinson Middle School 1.8 mi Public 6-8 1
      Shrine Catholic Grade School 1.8 mi Catholic PRESCHOOL-5 0
      Page Middle School 1.9 mi Public 6-8 2
      Lamphere Center 1.9 mi Public UNGRADE-UNGRADE 0
      Bishop Foley Catholic High School 1.9 mi Catholic 9-12 0
      Hiller Elementary School 1.9 mi Public K-5 1
      Royal Oak High School 2.0 mi Public 9-12 5
      Four Corners Montessori Academy 2.0 mi Public K-8 3
      Madison High School 2.0 mi Public 9-12 1
      Community High School 2.0 mi Public 9-12 0
      Addams Elementary 2.0 mi Public PRESCHOOL-5 4
      Madison Elementary School 2.2 mi Public PRESCHOOL-5 0
      Simonds Elementary School 2.3 mi Public K-5 2
      Madison District Early Childhood Education Center 2.5 mi Public PRESCHOOL-PRESCHOOL 0
      Shrine Catholic High School 3.1 mi Catholic 9-12 0
      Alfred E. Upton Elementary School 3.3 mi Public K-5 1
      Oakland Technical Center--se 3.3 mi Public 11-12 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.
      Local Weather for Royal Oak, MI
        Data powered by Attom Data Solutions. Copyright© 2022. Information deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.