Is Royal Oak, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Royal Oak is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Royal Oak was a Neutral Market.

Key Takeaway

Royal Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Royal Oak, MD

How much do homes in Royal Oak, MD cost?

Median Sold Price

$1,602,010

$587/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$1,377,990(-46.2%)

Key Takeaway

Homes in Royal Oak have sold for 46.2% less than they did a month ago.

Summary: The median home sold price in Royal Oak was $1,602,010 in October 2024, down 46.2% from last month, and the median price per square foot was $587.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $110K-
N/A
4 $5.8M$1.6M
-72.6%
5+ --
N/A

Summary: Royal Oak housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 72.6%, and 5+ bedroom homes did not change.

Housing Supply in Royal Oak, MD

How many homes are available in Royal Oak, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
129-25.0%

Summary: The Royal Oak real estate market had 9 homes for sale in October 2024, a 25.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 21
-50.0%
4 86
-25.0%
5+ 22
0.0%

Summary: The Royal Oak housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Royal Oak, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Royal Oak in October 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Royal Oak, MD

How long does it take to sell a home in Royal Oak, MD?

Average Sale Time

Sep 2024Oct 2024CHANGE
162 Days92 Days-43.2%

Summary: Homes in Royal Oak had an average of 92 days on market in Oct 2024, down by 43.2% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Royal Oak has remained consistent over time.

Summary: During October 2024, 2 homes were sold in Royal Oak; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Royal Oak, MD

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