
Market Update: Single Family Home Sales Oakland County, Michigan, Detroit Metro.
We focus on the data that matters to you. This report is for Oakland County, single family home resales (no condos or townhomes).
If you are selling the market may feel frenetic. The average number of showings per home listing in August was 6.9 per month, average days on market for homes sold in Oakland County decreased 10% to 27 vs. August of 2023. The average sold to list price was down to 97.4%. The result of this active market is average sales price for a single-family home sold in Oakland County was up to $455,654.00 the highest average price on record and up from $418,912.00 in August of 2023.
Our analysis shows this is the tale of many markets. 31% of the homes closed in August went under contract in the first weekend on the market and sold for an average of $10,000.00 over list price, while homes on the market 30 days or more sold for $34,000.00 under original asking price.
As the chart above shows, different areas have vastly different results. While this report is certainly more indicative of the Oakland County housing market than any news reports or general market statement, your area (right down to your street) can make a large difference in you sales experience. Changing Streets know this and has a bespoke process for every listing.
This also focuses on Single family homes the condo/townhome market is a much different situation, this market is actually a different process entirely.
All markets are crazy, this one is next level an agent and company that understand the nuances of the market as a whole and specifically your market is crucial for smart, easy, sane transaction.
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