Is Oak Ridge, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Oak Ridge has remained a Seller's Market.
Housing Prices in Oak Ridge, NC
How much do homes in Oak Ridge, NC cost?
Median Sold Price
$640,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Oak Ridge was $640,000 in March 2024, up 9.8% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $157K | N/A |
2 Bedrooms | $233K | $235K | +0.9% |
3 Bedrooms | $425K | $415K | -2.4% |
4 Bedrooms | $674K | $728.4K | +8.1% |
5+ Bedrooms | $932.9K | $615K | -34.1% |
Summary: Oak Ridge housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 34.1%.
Median Sold Price Compared To Nearby Cities
Oak Ridge | $583K | $640K | +9.8% |
Colfax | $400K | $421.2K | +5.3% |
Oak Ridge Township | $559.9K | $587.5K | +4.9% |
Deep River Township | $374.9K | $390K | +4.0% |
Stokesdale | $499.9K | $458K | -8.4% |
Housing Supply in Oak Ridge, NC
How many homes are available in Oak Ridge, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 45 | +7.1% |
Summary: The Oak Ridge real estate market had 45 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 7 | 10 | +42.9% |
4 Bedrooms | 32 | 32 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Oak Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Oak Ridge in March 2024, down by 8.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 36% were sold at asking, and 27% were sold over asking.
Days on Market for Oak Ridge, NC
How long does it take to sell a home in Oak Ridge, NC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
54 Days | 91 Days | +69.3% |
Summary: Homes in Oak Ridge had an average of 91 days on market in Mar 2024, up by 69.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Oak Ridge; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.