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Featured local agent — Royal Oak, MI
Sarah Mitchell
Compass Real Estate · Royal Oak, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Royal Oak, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$390,000median sale price
How is the Royal Oak, MI housing market right now?
The median home sale price in Royal Oak, MI is $390,000, up 1.3% year-over-year. Homes sell in an average of 15 days with 198 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Royal Oak a buyer's or seller's market?
Royal Oak, MI is currently a strong seller's market, based on 1.5 months of supply and homes selling in about 15 days. How we determine this →
Homes sold
128
Last 12 weeks
Days on market
15
Fast-moving
Active listings
198
1.5 months supply
Sale-to-list
100.6%
Above asking
What does the Royal Oak housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $390,000 |
| Median list price | $381,200 |
| Year-over-year price change | +1.3% |
| Average days on market | 15 days |
| Active inventory | 198 listings |
| Months of supply | 1.5 months |
| Sale-to-list price ratio | 100.6% |
| Median price per sq ft | $275/sq ft |
| Homes sold (latest month) | 128 |
| New listings (latest month) | 172 |
| Listings with a price cut | 25.3% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Royal Oak by property type?
How the Royal Oak, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $405,000 | $288/sq ft | 108 | 14 days |
| Condo / Co-op | $197,250 | $183/sq ft | 20 | 28 days |
Source: Redfin · Updated monthly
The Royal Oak housing market is currently classified as a strong seller's market with a median sale price of $390,000. Prices have risen 1.3% compared to last year, with homes spending an average of 15 days on market, indicating 1.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.6x provides context for how home values compare to local earning capacity.
Homes for sale in Royal Oak
There are currently 198 homes listed for sale in Royal Oak, Michigan. The median listing price is $381K.
Active listings
198
Homes on market
Median list price
$381K
Avg. days on market
15
Days until sale
New this week
172
Newly listed
Who lives in Royal Oak?
Population
57,880
Median income
$95,182/yr
Median age
36.9 years
Owner-occupied
66.4%
College grads
62.6%
Avg commute
24.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Royal Oak?
Zillow home value
$340,918
Zillow rent index
$2,150/mo
Price-to-rent ratio
13.2x
Price-to-income
3.6x
Source: Zillow Research
What is it like to live in Royal Oak?
Royal Oak is a community of approximately 58K residents with a median age of 36.9 years.The median household income is $95,182, which reflects a relatively affluent area with strong earning potential. 62.6% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 66.4%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Royal Oak offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Royal Oak?
10 schools tracked · 4,801 students
The largest public schools serving Royal Oak, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Royal Oak High School
Grades 9-12 · 1,338 students
Royal Oak Middle School
Grades 6-8 · 1,097 students
Keller Elementary
Grades PK-5 · 450 students
Northwood Elementary School
Grades PK-5 · 446 students
Addams Elementary and ECC
Grades PK-5 · 443 students
Oak Ridge Elementary School
Grades K-5 · 408 students
Alfred E Upton Elementary School
Grades K-5 · 295 students
Oakland Elementary School
Grades K-5 · 231 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Royal Oak, MI?
Want a head-to-head view? Compare Royal Oak side-by-side with any other U.S. city using our market-comparison tool.
Is Royal Oak a good real estate investment market?
For investors evaluating Royal Oak, the price-to-rent ratio of 13.2x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 1.3% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Royal Oak's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Royal Oak's median home price.
Frequently asked questions
What is the average home price in Royal Oak?
The median home sale price in Royal Oak is $390,000, up 1.3% from last year.
How long do homes stay on market in Royal Oak?
Homes typically spend 15 days on market before going under contract.
What is the median income in Royal Oak?
The median household income is $95,182 per year.
Is Royal Oak a buyer's or seller's market?
With 1.5 months of supply, Royal Oak is currently a strong seller's market.
What is the Zillow home value estimate for Royal Oak?
The Zillow Home Value Index (ZHVI) for Royal Oak is $340,918, representing the typical home value in the area.
What is the median condo price in Royal Oak?
The median condo/co-op sale price in Royal Oak, MI is $197,250, compared to $405,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Royal Oak?
The median single-family home price in Royal Oak, MI is $405,000 (about $288 per square foot).
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