Karen Dybis
Special to Crain’s Detroit
- 70 homes listed at $1 million and higher have gone pending in Oakland County in past 30 days
- Realtors: Birmingham has highest price per square foot in Michigan
- Average days on market in high-demand cities drops
Stylish Detroit
Low-inventory lakefront retreats are hot commodity in Oakland County. This 6,562-square-foot, four-bedroom, seven-bathroom home on Upper Long Lake in Bloomfield Hills is listed for $4 million.
Oakland County’s luxury residential real estate market is seeing stronger prices and quicker sales over the past year, spurred in part by an influx of buyers who want a lifestyle upgrade and are looking at higher price points thanks to a rebounding economy and low mortgage interest rates, including jumbo loans.