Royal Oak Real Estate & Homes for Sale in Michigan
Nestled right next to the bustling city of Detroit, Royal Oak is one of the most diverse communities in the area. Home to 58,000 residents, Royal Oak has all the joys of small town living as well as all of the conveniences of being located next to a major metropolis.
Royal Oak's downtown district recently underwent a thrilling renovation and is now an upscale, urban chic paradise. Home to endless delicious restaurants, bistros, nightclubs, shops, and theaters, Royal Oak's downtown offers residents and visitors alike an eclectic mix of entertainment year round. This new and improved downtown district is pedestrian friendly and has really brought out the city's charm. Brick paving, emerald trees, delectable restaurants and sunny skies surround the streets.
Known as "The City of Trees," Royal Oak truly lives up to its name with gigantic trees growing on nearly every corner. Thanks to the downtown's recent renovations, the city's economy is currently growing at a rapid pace and shows no signs of stopping. If you are looking to live in a distinct community, then Royal Oak is the city for you!
Royal Oak Real Estate Market Info - Prices of Houses for Sale in Royal Oak
Royal Oak's real estate varies from high-rise condos to cozy single-family homes. The average price for a 3- bedroom/2-bathroom single-family home in Royal Oak is $200,000. Modest 2-bedroom/2-bathroom single-family homes range in price from $100,000 to $150,000. Luxury estates are also quite popular in Royal Oak, and the prices for these homes vary in price from $450,000 to $600,000. Many residents in Royal Oak live in high-rise condos, and the average price for a 2-bedroom/2-bathroom upscale condo is $350,000.
Royal Oak Real Estate Stats and Trends for the week of May 2nd, 2016: homes priced around $302,184 compared to $312,042 the previous week, showing a decrease of less than -3%. For Wednesday, May 4th, the current national mortgage rate for a 30 year fixed mortgage is 3.63%; the 15 year fixed rate is at 2.76%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.05%, while the 15 year jumbo rate currently is at 3.69%. You can calculate your mortgage rate with our mortgage calculators. Get local info and homes for sale in Royal Oak MI. View active real estate listings for different types of properties including new homes, houses for sale, foreclosures, short sales, and price reduced listings. Find information and property resources including prices of recently sold homes, neighborhood information, crime stats, home values, and schools in Royal Oak to help you find the best home!