Is Oak Island, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oak Island has remained a Seller's Market.
Housing Prices in Oak Island, NC
How much do homes in Oak Island, NC cost?
Median Sold Price
$590,000
$405/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Oak Island was $590,000 in April 2024, up 10.6% from last year, and the median price per square foot was $405.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $402.5K | $321.4K | -20.1% |
2 Bedrooms | $373K | $385K | +3.2% |
3 Bedrooms | $538.3K | $579.9K | +7.7% |
4 Bedrooms | $790K | $805K | +1.9% |
5+ Bedrooms | $1.2M | $1.2M | -1.6% |
Summary: Oak Island housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.1%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
Saint James | $625K | $714.9K | +14.4% |
Caswell Beach | $512.5K | $582K | +13.6% |
Oak Island | $533.5K | $590K | +10.6% |
Smithville Township | $515K | $562.8K | +9.3% |
Boiling Spring Lakes | $300K | $311.9K | +4.0% |
Housing Supply in Oak Island, NC
How many homes are available in Oak Island, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
313 | 324 | +3.5% |
Summary: The Oak Island real estate market had 324 homes for sale in April 2024, a 3.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 39 | 37 | -5.1% |
3 Bedrooms | 170 | 176 | +3.5% |
4 Bedrooms | 60 | 69 | +15.0% |
5+ Bedrooms | 43 | 41 | -4.7% |
Summary: The Oak Island housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 4.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 59 | +7.3% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Oak Island in April 2024, up by 7.3% month-over-month. Of the 59 sold homes, 75% were sold under asking, 19% were sold at asking, and 7% were sold over asking.
Days on Market for Oak Island, NC
How long does it take to sell a home in Oak Island, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
72 Days | 60 Days | -16.4% |
Summary: Homes in Oak Island had an average of 60 days on market in Apr 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 59 homes were sold in Oak Island; 46% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.