Royal Oak Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 9, 2020

Housing Market Royal Oak

Monthly REALCOMP Market Update

REALCOMP SE Michigan Area including Royal Oak, Ferndale, Berkley, Clawson

Housing Market Royal Oak

September 2020

Strong buyer activity has continued into the fall, which is normally the start of the seasonal slowing of the housing market. With stronger buyer activity in the market this year and the continued constrained supply of homes for sale, speedy sales and multiple offers are likely to remain a common occurrence and will keep the housing market hot even when the weather is cooling.

Closed Sales increased 8.7 percent for Residential homes and 18.3 percent for Condo homes. Pending Sales increased 20.6 percent for Residential homes and 21.6 percent for Condo homes. Inventory decreased 45.1 percent for Residential homes and 25.4 percent for Condo homes.

The Median Sales Price increased 13.2 percent to $215,000 for Residential homes and 6.7 percent to $182,000 for Condo homes. Days on Market decreased 5.4 percent for Residential homes but increased 11.4 percent for Condo homes. Months Supply of Inventory decreased 43.2 percent for Residential homes and 23.5 percent for Condo homes.

While mortgage rates remain near record lows, The Mortgage Bankers Association reports that lending standards are tightening, which makes it a bit more difficult for some buyers to qualify. At the same time, unemployment remains substantially higher than a year ago due to COVID-19. Despite all this, buyers are out in full force this fall, showing amazing resilience in the middle of a pandemic.

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Source:  REALCOMP as of October 1, 2020. All data from Realcomp II Ltd. Report © 2020 ShowingTime.

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Please contact me directly if you have any real estate questions or need assistance with buying, selling or renting a home.  I'm always here to help!  Check back next month for the next market update!   - Chris Lynn

Aug. 9, 2020

Selling My Home In Royal Oak

Wondering what steps to selling your home?

Selling My Home In Royal Oak

Selling My Home In Royal Oak....Or Any Nearby Area...

Wondering what the steps are to selling your Royal Oak home? Visit the Selling Info page with a short video providing an overview of the Home Selling Process as well as Realtor services if you choose to list.  Keeping up great communication and working hard to secure the highest possible price in shortest amount of time are always top priorities when working with a seller and their home.

Also, Get an INSTANT property valuation emailed to you now that provides an estimated range of what your Royal Oak home could sell for in today's market!  This report uses data from recent home sales in your neighborhood.  Also servicing Ferndale, Hazel Park, Berkley, Pleasant Ridge, Clawson, Bimingham, Troy and surrounding areas.

Begin by simply filling out the form below or contact me directly... 

July 3, 2020

What's My Home Worth Hazel Park MI?

Get an Instant Property Valuation Now

What's My Home Worth Hazel Park MIWondering What Your Hazel Park Home is Worth?

Get an INSTANT property valuation emailed to you now that provides an estimated range of what your Hazel Park home could sell for in today's market!  This report uses data from recent home sales in your neighborhood.

Begin by simply filling out the form below or contact me directly... 

Nov. 27, 2019

Homes For Sale Royal Oak, MI

Searching for the Newest Homes or Lofts for Sale in the Royal Oak area?

Check out the latest List of Homes and Condos for Sale in Royal Oak from the MLS including the area's popular lofts and townhomes!   

Also be sure to utilize the search tool on this website to search on homes listed for sale in surrounding areas including Ferndale, Hazel Park, Oak Park, Pleasant Ridge, Huntington Woods, Berkley, Clawson, Birmingham, Troy and any Michigan location. 

If there are homes you want to see contact Chris today to quickly set up a showing tour!

Homes For Sale Royal Oak, MI

 

Posted in Royal Oak
July 14, 2019

Royal Oak Great for Home Sales!

Why is the 2019-2020 Market the Perfect Time to Sell Your Home?

Royal Oak Great for Home Sales!

 


There are many reasons why it's a great time to sell your home in Royal Oak, Ferndale, Hazel Park, Berkley, Clawson and surrounding communities and will continue to be throughout 2019 into 2020.


It's not too late to list your home - Royal Oak, Ferndale & Nearby!

The articles published by PR Newswire and Realtor.com describe another overall market shift with indications of a decline in national inventory as soon as this coming October resulting in more bidding wars, faster sales and stronger home appreciation.  This, along with low interest rates and lots of eager buyers, makes for an excellent market to sell your home in.  In addition, Royal Oak, Ferndale and the surrounding communities are highly sought after areas, with fun downtown locations loaded with restaurants and active nightlife plus booming with new construction (both residential and commercial). 

So if you missed listing your home this past spring it's definitely not too late!  Contact me today for answers to any of your real estate questions whether you're thinking of buying or selling and if you'd like a market analysis on your home.  Also, get an instant estimated valuation of your home on my website.   


Click on the links below for the articles...

Sources:

Realtor.com -->  June 2019 Data: Another Shift in the Housing Market is Ahead

PRNewswire.com --> Realtor.com® Predicts Market Shift That Could Impact Buyers Well Into 2020

Feb. 22, 2019

What's My Home Worth Royal Oak MI?

Get an Instant Property Valuation Now

What's My Home Worth Royal Oak MI

Wondering What Your Royal Oak Home is Worth?

Get an INSTANT property valuation emailed to you now that provides an estimated range of what your Royal Oak home could sell for in today's market!  This report uses data from recent home sales in your neighborhood.

Begin by simply filling out the form below or contact me directly... 

Feb. 20, 2019

What's My Home Worth Ferndale MI?

Get an Instant Property Valuation Now

What's My Home Worth Ferndale MIWondering What Your Ferndale Home is Worth?

Get an INSTANT property valuation emailed to you now that provides an estimated range of what your Ferndale home could sell for in today's market!  This report uses data from recent home sales in your neighborhood.

Begin by simply filling out the form below or contact me directly... 

Jan. 11, 2019

Skyward Real Estate, Royal Oak

Moving Locations to Main St, North of 11 Mile

Skyward Real Estate, Royal Oak   


Skyward Real Estate, Royal Oak MI is moving locations from Washington Ave to Main Street just north of 11 Mile Rd near the Royal Oak Emagine Theater under the Main North Lofts! This great new location is opening soon!

Contact me if you’re a buyer, seller or renter needing real estate help in Royal Oak or nearby locations, even if you only have general questions. Request a free market analysis of your home or a list of homes currently for sale.

Click here for latest Royal Oak, MI Homes for Sale and contact me if you’d like a showing.

Skyward Real Estate, Royal Oak

I look forward to discussing your real estate needs!

Chris Lynn

Real Estate Consultant
Skyward Real Estate, Royal Oak MI
www.HomeSalesRoyalOak.com

July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates