Is Royal Oak, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Royal Oak was a Buyer's Market.
Housing Prices in Royal Oak, MD
How much do homes in Royal Oak, MD cost?
Median Sold Price
$995,000
$437/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Royal Oak was $995,000 in May 2024, up 121.6% from last month, and the median price per square foot was $437.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $297K | N/A |
3 Bedrooms | $449K | $655.5K | +46.0% |
4 Bedrooms | - | $1.8M | N/A |
5+ Bedrooms | - | $2.3M | N/A |
Summary: Royal Oak housing prices by bedroom type for May 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 increased by 46%, 4 bedroom homes did not change, 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
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 19 | +35.7% |
Summary: The Royal Oak real estate market had 19 homes for sale in May 2024, a 35.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 3 | 6 | +100.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Royal Oak housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Royal Oak in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% 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
Apr 2024 | May 2024 | CHANGE |
---|---|---|
143 Days | 35 Days | -75.0% |
Summary: Homes in Royal Oak had an average of 35 days on market in May 2024, down by 75% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Royal Oak; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.