Royal Oak Real Estate Market Summary – January 2025

Market Trends:

• Detached Homes

  • Sales: 4 transactions (+300% Y/Y, compared to 1 in Jan 2024)

  • Inventory: 8 units (+60% Y/Y)

  • Benchmark Price: $814,400, stable with 6% Y/Y growth

  • Months of Supply: 2.00, signaling a balanced market

• Semi-Detached Homes

  • No sales reported in January (same as previous year)

  • Inventory: 2 units

  • Benchmark Price: $554,100 (N/A due to low sales activity)

• Row Homes

  • Sales: 3 transactions (+200% Y/Y, compared to 1 in Jan 2024)

  • Inventory: 8 units (+700% Y/Y)

  • Benchmark Price: $474,000, reflecting 8.4% Y/Y growth

  • Months of Supply: 1.91, indicating a slight seller’s advantage

• Apartments

  • Sales: 4 transactions (-43% Y/Y, compared to 7 in Jan 2024)

  • Inventory: 7 units (same as previous year)

  • Benchmark Price: $320,900, up 7.6% Y/Y

• Overall Market Trends

  • Total Residential Sales: 11 transactions (+22% Y/Y)

  • New Listings: 25 listings (+79% Y/Y)

  • Total Residential Benchmark Price: $624,700 (+2.8% Y/Y)

  • Months of Supply: 1.91, showing a tighter market than last year

Comparison with Previous Months

Market Insights

• Sales volume increased in January, showing a stronger start to the year compared to December.

• New listings surged by 212%, bringing more inventory onto the market.

• Detached and row home sales showed strong Y/Y growth, while apartment sales declined.

• Prices remained stable with modest gains, reflecting continued demand.

2025 Real Estate Outlook for Royal Oak

• Continued price growth is expected, driven by sustained demand in detached and row homes.

• Tighter supply conditions may lead to increased competition, particularly in affordable property segments.

• Interest rate fluctuations could impact affordability, influencing buyer activity in higher price ranges.

• New listings will be key in shaping the market balance—if inventory remains limited, price growth could accelerate.

January 2025 started with strong sales momentum in the detached and row home sectors, while apartments experienced a slowdown. New listings increased significantly, offering more choices for buyers. The overall market remains in favor of sellers, but higher inventory levels could bring a more balanced market in the coming months.