Is Red Oak Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Red Oak Township was a Seller's Market.
Key Takeaway
Red Oak Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Red Oak Township, NC
How much do homes in Red Oak Township, NC cost?
Median Sold Price
$320,750
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Red Oak Township have sold for 8.4% less than they did a year ago.
Summary: The median home sold price in Red Oak Township was $320,750 in March 2024, down 8.4% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | $228.5K | +8.8% |
| 3 Bedrooms | $337.5K | $298K | -11.7% |
| 4 Bedrooms | $510K | $514.9K | +1.0% |
| 5+ Bedrooms | $484K | $412.7K | -14.7% |
Summary: Red Oak 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 8.8%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 14.7%.
Median Sold Price Compared To Nearby Cities
| Stony Creek Township | $225K | $249K | +10.7% |
| Oak Level Township | $280.8K | $276K | -1.7% |
| Red Oak Township | $350K | $320.7K | -8.4% |
| Red Oak | $345K | $305K | -11.6% |
Housing Supply in Red Oak Township, NC
How many homes are available in Red Oak Township, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 33 | +32.0% |
Summary: The Red Oak Township real estate market had 33 homes for sale in March 2024, a 32.0% 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 | 14 | 21 | +50.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Red Oak 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 50%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Oak Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Red Oak Township in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Red Oak Township, NC
How long does it take to sell a home in Red Oak Township, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 106 Days | +98.8% |
Summary: Homes in Red Oak Township had an average of 106 days on market in Mar 2024, up by 98.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Red Oak Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in Red Oak Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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