Is Oak City, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Oak City has remained a Seller's Market.
Key Takeaway
Oak City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak City, NC
How much do homes in Oak City, NC cost?
Median Sold Price
$85,000
$48/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Oak City have sold for 36.7% less than they did a month ago.
Summary: The median home sold price in Oak City was $85,000 in May 2024, down 36.7% from last month, and the median price per square foot was $48.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $134.2K | - | N/A |
| 3 Bedrooms | - | $85K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Oak City housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Oak City | $134.2K | $85K | -36.7% |
| Goose Nest Township | $134.2K | $85K | -36.7% |
Housing Supply in Oak City, NC
How many homes are available in Oak City, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Summary: The Oak City real estate market had 3 homes for sale in May 2024, a 40.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Oak City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oak City, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Oak City in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Oak City, NC
How long does it take to sell a home in Oak City, NC?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 Days | 90 Days | +14.6% |
Summary: Homes in Oak City had an average of 90 days on market in May 2024, up by 14.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Oak City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 1 homes were sold in Oak City; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
