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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Ridge Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Oak Ridge Township, NC

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

Median Sold Price

$587,500

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,600(+4.9%)

Key Takeaway

Homes in Oak Ridge Township have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Oak Ridge Township was $587,500 in March 2024, up 4.9% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$157K
N/A
2 $233K$235K
+0.9%
3 $400K$429.9K
+7.5%
4 $627.5K$675K
+7.6%
5+ $921.4K$615K
-33.3%

Summary: Oak Ridge Township 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 increased by 7.5%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 33.3%.

Median Sold Price Compared To Nearby Cities

Oak Ridge
+9.8%
Oak Ridge Township
+4.9%
Bruce Township
+3.0%
Stokesdale
-8.4%

Housing Supply in Oak Ridge Township, NC

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
8588+3.5%

Summary: The Oak Ridge Township real estate market had 88 homes for sale in March 2024, a 3.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1924
+26.3%
4 6361
-3.2%
5+ 22
0.0%

Summary: The Oak Ridge Township 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 26.3%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1820+11.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Ridge Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Oak Ridge Township in March 2024, up by 11.1% month-over-month. Of the 20 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for Oak Ridge Township, NC

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

Average Sale Time

Mar 2023Mar 2024CHANGE
68 Days98 Days+44.8%

Summary: Homes in Oak Ridge Township had an average of 98 days on market in Mar 2024, up by 44.8% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 20 homes were sold in Oak Ridge Township; 35% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 35% 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 23 Days Ago

Newest Listings in Oak Ridge Township, NC

Nearby Markets to Oak Ridge Township, NC

What housing markets are near Oak Ridge Township, NC?