Is Oak Grove Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Grove Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Oak Grove Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Oak Grove Township, NC

How much do homes in Oak Grove Township, NC cost?

Median Sold Price

$380,890

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$10,226(-2.6%)

Key Takeaway

Homes in Oak Grove Township have sold for 2.6% less than they did a year ago.

Summary: The median home sold price in Oak Grove Township was $380,890 in May 2024, down 2.6% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$160K
N/A
2 $255K$310K
+21.6%
3 $367.1K$350K
-4.7%
4 $455K$450.4K
-1.0%
5+ $516.5K$535K
+3.6%

Summary: Oak Grove Township 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 21.6%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Lebanon Township
+7.7%
Carr Township
+6.6%
Durham
+3.0%
Durham Township
+2.6%
Oak Grove Township
-2.6%

Housing Supply in Oak Grove Township, NC

How many homes are available in Oak Grove Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
231233+0.9%

Summary: The Oak Grove Township real estate market had 233 homes for sale in May 2024, a 0.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 2728
+3.7%
3 130127
-2.3%
4 5560
+9.1%
5+ 1817
-5.6%

Summary: The Oak Grove Township 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 3.7%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
68680.0%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Grove Township, you may be able to get a good deal. 42.6% of homes here sold below asking price last month.

Summary: A total of 68 homes were sold or pending in Oak Grove Township in May 2024, the same as the previous month. Of the 68 sold homes, 43% were sold under asking, 29% were sold at asking, and 28% were sold over asking.

Days on Market for Oak Grove Township, NC

How long does it take to sell a home in Oak Grove Township, NC?

Average Sale Time

May 2023May 2024CHANGE
56 Days16 Days-71.2%

Summary: Homes in Oak Grove Township had an average of 16 days on market in May 2024, down by 71.2% compared to last year.

Breakdown of Home Sale Times

58 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Oak Grove Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 68 homes were sold in Oak Grove Township; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

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

Report Updated 20 Days Ago

Newest Listings in Oak Grove Township, NC

Nearby Markets to Oak Grove Township, NC

What housing markets are near Oak Grove Township, NC?