Is Red Oak, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Red Oak was a Buyer's Market.
Key Takeaway
Red Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Red Oak, NC
How much do homes in Red Oak, NC cost?
Median Sold Price
$382,250
$177/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Red Oak have sold for 66.3% more than they did a month ago.
Summary: The median home sold price in Red Oak was $382,250 in April 2024, up 66.3% from last month, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $228.5K | - | N/A |
| 3 Bedrooms | $237.4K | $330K | +39.0% |
| 4 Bedrooms | - | $434.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Red Oak housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 39%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Red Oak Township | $229.9K | $388.5K | +69.0% |
| Red Oak | $229.9K | $382.2K | +66.3% |
Housing Supply in Red Oak, NC
How many homes are available in Red Oak, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 19 | -13.6% |
Summary: The Red Oak real estate market had 19 homes for sale in April 2024, a 13.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Red Oak 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 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Oak, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Red Oak in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Red Oak, NC
How long does it take to sell a home in Red Oak, NC?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 106 Days | 38 Days | -63.9% |
Summary: Homes in Red Oak had an average of 38 days on market in Apr 2024, down by 63.9% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Red Oak are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Red Oak; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright © 2024 Triangle MLS, Inc. of North Carolina. All rights reserved.