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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Ridge is a buyer's market

Buyer's
Market

Difference Since September 2023

Since last year, Oak Ridge has remained a Buyer's Market.

Key Takeaway

Oak Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Oak Ridge, NC

How much do homes in Oak Ridge, NC cost?

Median Sold Price

$621,990

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$1,760(-0.3%)

Key Takeaway

The sold price of homes in Oak Ridge has remained the same since last year.

Summary: The median home sold price in Oak Ridge was $621,990 in September 2024, down 0.3% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $157K$145K
-7.6%
2 $187.5K$297K
+58.4%
3 $370K$439.9K
+18.9%
4 $714.9K$701K
-2.0%
5+ $615K$492.5K
-19.9%

Summary: Oak Ridge housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 58.4%, 3 bedroom homes increased by 18.9%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 19.9%.

Median Sold Price Compared To Nearby Cities

Oak Ridge Township
+8.5%
Stokesdale
+6.9%
Oak Ridge
-0.3%
Colfax
-1.9%
Deep River Township
-5.1%

Housing Supply in Oak Ridge, NC

How many homes are available in Oak Ridge, NC?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4249+16.7%

Summary: The Oak Ridge real estate market had 49 homes for sale in September 2024, a 16.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 11
0.0%
3 89
+12.5%
4 3036
+20.0%
5+ 33
0.0%

Summary: The Oak Ridge housing inventory by bedroom type for September 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 12.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
116-45.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Ridge, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Oak Ridge in September 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% 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

Sep 2023Sep 2024CHANGE
19 Days24 Days+22.7%

Summary: Homes in Oak Ridge had an average of 24 days on market in Sep 2024, up by 22.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 6 homes were sold in Oak Ridge; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

Newest Listings in Oak Ridge, NC

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