Is Oakwood, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Oakwood has remained a Seller's Market.
Key Takeaway
Oakwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakwood, GA
How much do homes in Oakwood, GA cost?
Median Sold Price
$333,950
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oakwood have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in Oakwood was $333,950 in May 2024, up 11.3% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $252K | $260K | +3.2% |
| 3 Bedrooms | $304.9K | $328.8K | +7.8% |
| 4 Bedrooms | $334.9K | $377.5K | +12.7% |
| 5+ Bedrooms | $418K | $407.2K | -2.6% |
Summary: Oakwood 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 increased by 3.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Oakwood | $299.9K | $333.9K | +11.3% |
| Gainesville | $379.9K | $390.7K | +2.8% |
| Flowery Branch | $429.8K | $430.6K | 0.2% |
Housing Supply in Oakwood, GA
How many homes are available in Oakwood, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 71 | +12.7% |
Summary: The Oakwood real estate market had 71 homes for sale in May 2024, a 12.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 10 | +100.0% |
| 3 Bedrooms | 26 | 33 | +26.9% |
| 4 Bedrooms | 21 | 17 | -19.0% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Oakwood 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 increased by 100%, 3 bedroom homes increased by 26.9%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 18 | +63.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakwood, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Oakwood in May 2024, up by 63.6% month-over-month. Of the 17 sold homes, 47% were sold under asking, 35% were sold at asking, and 18% were sold over asking.
Days on Market for Oakwood, GA
How long does it take to sell a home in Oakwood, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 31 Days | +48.2% |
Summary: Homes in Oakwood had an average of 31 days on market in May 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oakwood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Oakwood; 67% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.