The following is an end of the year market analysis for Royal Oak Michigan. It compares only residential homes sold in 2007 with 2008 to determine the number of homes sold for the year and the increase/decrease in average sold price. It also distinguishes how many homes were recorded to be Bank Owned as opposed to private owned. Total number of Homes Sold include private, bank owned and short sales. In the latter part of 2008, Realtors were required to categorize ownership status so figures may not truly reflect the actual number of bank owned for 2007 and part of 2008. To insure that leases were not included in these calculations, minimum search price was $10,000.
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62 Bank Owned Homes sold in 2007
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Average List Price
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$135,656.00
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Average Sold Price
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$127,238.00
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Highest List Price
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$255,150.00
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Highest Sold Price
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$255,150.00
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Lowest List Price
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$44,900.00
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Lowest Sold Price
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$37,500.00
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Avg. Days On Market
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74
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Avg. Days On Market
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75
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152 Bank Owned Homes Sold in 2008
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Average List Price
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$109,928.00
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Average Sold Price
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$104,536.00
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Highest List Price
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$421,900.00
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Highest Sold Price
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$435,000.00
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Lowest List Price
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$17,900.00
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Lowest Sold Price
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$17,900.00
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Avg. Days On Market
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73
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Avg. Days On Market
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74
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Average List Price
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$191,115.00
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Average Sold Price
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$182,194.00
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Highest List Price
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$629,500.00
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Highest Sold Price
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$561,625.00
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Lowest List Price
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$44,900.00
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Lowest Sold Price
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$13,800.00
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Avg. Days On Market
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111
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Avg. Days On Market
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111
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656 Homes sold in 2008
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Average List Price
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$163,040.00
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Average Sold Price
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$154,381.00
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Highest List Price
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$624,900.00
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Highest Sold Price
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$540,000.00
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Lowest List Price
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$17,900.00
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Lowest Sold Price
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$17,900.00
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Avg. Days On Market
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118
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Avg. Days On Market
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119
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In 2008, Royal Oak had a 6% decrease in homes sold
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In 2008, Royal Oak had an 15% decrease in average sold price
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In 2008, Royal Oak had a 59% increase in Bank Owned homes sold
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In 2008 Royal Oak had a 18% decrease in average Bank Owned sold price
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Statistics rounded to nearest % & compiled from RealComp II data believed to be reliable.
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Market Analysis for Oakland County Michigan.
Market Analysis for Birmingham Michigan
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Royal Oak Realtor selling Real Estate in Southeastern Michigan. TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service. Follow me on Twitter.
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