Royal Oak Lofts Sales – Loft Living Royal Oak Listing Sets the Curve-Loft-Prices-Royal-Oak-MI
Unit 1202 at The Fifth recently sold for $255,000 which set the curve for the average dollar per square foot for Royal Oak Lofts. Previously lofts were selling around $210/SF in the late months of 2012. This newly remodeled and updated unit sold for $250/SF.
This unit at The Fifth was purchased from the developer in January of 2012 for $200,000. Updates included new hand-scraped hard wood floors, custom painting, flagstone fireplace, lighting beams in the master bedroom and custom closets.
While this $/SF was on the extreme high-end of loft prices the market can and does support price increases in every buildings. As spring nears we expect a surplus of clients moving to the Royal Oak area and as demand increases in the spring and summer months it's a safe bet that the cost to lease or purchase will continue to rise. Loft Prices in Royal Oak have been on the rise at a faster pace then residential homes.
If you have been playing with the idea of Loft Living or simply getting into investment properties it may be smart to starting doing your homework before the prices of 2006 are a thing of the present again.
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