Local Market Update – May 2018

This is a research tool provided by Realcomp.

Oakland Twp
Oakland County

Residential May Year to Date

Key Metrics 2017 2018 % Change Thru 5-2017 Thru 5-2018 % Change
New Listings 73 71 - 2.7% 253 236 - 6.7%
Pending Sales 28 33 + 17.9% 108 140 + 29.6%
Closed Sales 25 33 + 32.0% 88 111 + 26.1%
Days on Market Until Sale 56 51 - 8.9% 69 59 - 14.5%
Median Sales Price* $435,000 $460,000 + 5.7% $465,950 $460,000 - 1.3%
Average Sales Price* $470,817 $537,165 + 14.1% $486,281 $510,560 + 5.0%
Percent of List Price Received* 97.6% 98.2% + 0.6% 98.0% 97.3% - 0.7%
Inventory of Homes for Sale 157 130 - 17.2% –– –– ––
Months Supply of Inventory 7.3 5.5 - 24.7% –– –– ––

Condo May Year to Date

Key Metrics 2017 2018 % Change Thru 5-2017 Thru 5-2018 % Change
New Listings 9 5 - 44.4% 31 17 - 45.2%
Pending Sales 5 5 0.0% 21 18 - 14.3%
Closed Sales 9 5 - 44.4% 24 17 - 29.2%
Days on Market Until Sale 55 8 - 85.5% 39 53 + 35.9%
Median Sales Price* $196,300 $210,000 + 7.0% $181,500 $195,500 + 7.7%
Average Sales Price* $263,922 $314,800 + 19.3% $225,104 $282,424 + 25.5%
Percent of List Price Received* 99.3% 99.6% + 0.3% 97.6% 98.6% + 1.0%
Inventory of Homes for Sale 13 2 - 84.6% –– –– ––
Months Supply of Inventory 2.9 0.5 - 82.8% –– –– ––
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

Median Sales Price - Residential Median Sales Price - Condo

Rolling 12-Month Calculation All MLS Rolling 12-Month Calculation All MLS
Oakland Twp Oakland Twp
$500,000 $800,000

$400,000
$600,000

$300,000

$400,000

$200,000

$200,000
$100,000

$0 $0
1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

Current as of June 1, 2018. All data from Realcomp II Ltd. Report © 2018 ShowingTime.