Is Orange County, 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, Orange County has remained a Seller's Market.
Key Takeaway
Orange County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orange County, NC
How much do homes in Orange County, NC cost?
Median Sold Price
$606,822
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Orange County have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Orange County was $606,822 in March 2024, up 9.3% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $285K | +3.6% |
| 2 Bedrooms | $300K | $316.6K | +5.6% |
| 3 Bedrooms | $462.7K | $500K | +8.1% |
| 4 Bedrooms | $704K | $760.5K | +8.0% |
| 5+ Bedrooms | $910K | $920K | +1.1% |
Summary: Orange County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Counties
| Caswell County | $215K | $262K | +21.9% |
| Orange County | $555.3K | $606.8K | +9.3% |
| Person County | $285.7K | $290K | +1.5% |
| Durham County | $405.8K | $411.6K | +1.4% |
| Alamance County | $314.6K | $314.9K | 0.1% |
Housing Supply in Orange County, NC
How many homes are available in Orange County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 470 | 525 | +11.7% |
Summary: The Orange County real estate market had 525 homes for sale in March 2024, a 11.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 15 | +7.1% |
| 2 Bedrooms | 51 | 63 | +23.5% |
| 3 Bedrooms | 172 | 179 | +4.1% |
| 4 Bedrooms | 148 | 164 | +10.8% |
| 5+ Bedrooms | 85 | 104 | +22.4% |
Summary: The Orange County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 22.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 102 | 129 | +26.5% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orange County, you could pay more than the asking price. 51.9% of homes here sold above asking price last month.
Summary: A total of 129 homes were sold or pending in Orange County in March 2024, up by 26.5% month-over-month. Of the 129 sold homes, 35% were sold under asking, 13% were sold at asking, and 52% were sold over asking.
Days on Market for Orange County, NC
How long does it take to sell a home in Orange County, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 62 Days | -25.2% |
Summary: Homes in Orange County had an average of 62 days on market in Mar 2024, down by 25.2% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
69 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Orange County has remained consistent over time.
Summary: During March 2024, 129 homes were sold in Orange County; 27% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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