The right move depends on how much competition and buyer activity you want to face.
If you are debating whether to wait or list now in Royal Oak, MI, the real issue is whether today's conditions give you enough room to move on your terms. My answer is that this window is still workable for a seller, because supply was only 1.53 months recently, and that keeps pressure on available homes.
Low supply alone is not the whole story, and I would not pretend it is. Over the previous 30 days, 100 homes were sitting in contract and 71 closed, which tells me buyers were still stepping forward in Royal Oak, MI even as active listings sat at 147. That is the kind of market where preparation matters more than hesitation.
For a homeowner trying to simplify or right-size, waiting can feel safer emotionally than it is financially. A typical estimated home value was $357,810 recently, with a 1.3% gain from the prior month and 3.7% over 12 months, so I do see support under values. Still, I would not turn that into an excuse to delay without a plan, because the sale outcome will come down to condition, positioning, and timing.
Decide first what move you want this sale to fund. Prepare the home before you test the market, not after. Use today's tighter supply to your advantage, but anchor your price to recent closings and current competition instead of guessing that more time will automatically mean more money.
