Is Oakland, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oakland is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Oakland has remained a Seller's Market.

Key Takeaway

Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Oakland, TN

How much do homes in Oakland, TN cost?

Median Sold Price

$364,900

$116/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,900(+5.8%)

Key Takeaway

Homes in Oakland have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Oakland was $364,900 in May 2024, up 5.8% from last year, and the median price per square foot was $116.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 -$160K
N/A
3 $297.3K$303.2K
+2.0%
4 $385K$375K
-2.6%
5+ $429.9K$437K
+1.7%

Summary: Oakland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 1.7%.

Housing Supply in Oakland, TN

How many homes are available in Oakland, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
131128-2.3%

Summary: The Oakland real estate market had 128 homes for sale in May 2024, a 2.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 3338
+15.2%
4 7872
-7.7%
5+ 1817
-5.6%

Summary: The Oakland 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 50%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2530+20.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oakland, expect to pay close to the asking price. 46.7% of homes here sold near the asking price last month.

Summary: A total of 30 homes were sold or pending in Oakland in May 2024, up by 20.0% month-over-month. Of the 30 sold homes, 43% were sold under asking, 47% were sold at asking, and 10% were sold over asking.

Days on Market for Oakland, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Oakland, TN

Nearby Markets to Oakland, TN

What housing markets are near Oakland, TN?