Is Oak Hill, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Oak Hill has remained a Seller's Market.
Key Takeaway
Oak Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Oak Hill, TN cost?
Median Sold Price
$1,850,000
$473/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Oak Hill have sold for 54.2% more than they did a year ago.
Summary: The median home sold price in Oak Hill was $1,850,000 in August 2023, up 54.2% from last year, and the median price per square foot was $473.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $509.9K | $1.2M | +135.3% |
| 3 Bedrooms | $902.9K | $1.1M | +21.8% |
| 4 Bedrooms | $1.2M | $1.5M | +24.7% |
| 5+ Bedrooms | $3.4M | $2.9M | -15.1% |
Summary: Oak Hill housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 135.3%, 3 bedroom homes increased by 21.8%, 4 bedroom homes increased by 24.7%, and 5+ bedroom homes decreased by 15.1%.
Median Sold Price Compared To Nearby Cities
| Oak Hill | $1.2M | $1.8M | +54.2% |
| Forest Hills | $1.9M | $2.0M | +5.1% |
| Nashville | $495.1K | $511.3K | +3.3% |
Housing Supply
How many homes are available in Oak Hill, TN?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 45 | 43 | -4.4% |
Summary: The Oak Hill real estate market had 43 homes for sale in August 2023, a 4.4% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 7 | -30.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Oak Hill housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Hill, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Oak Hill in August 2023, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market
How long does it take to sell a home in Oak Hill, TN?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 8 Days | 18 Days | +130.4% |
Summary: Homes in Oak Hill had an average of 18 days on market in Aug 2023, up by 130.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oak Hill are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 8 homes were sold in Oak Hill; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2023 of the REALTRACS MLS. All rights Reserved.