Is Oak Ridge Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Oak Ridge Township has remained a Seller's Market.
Key Takeaway
Oak Ridge Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak Ridge Township, NC
How much do homes in Oak Ridge Township, NC cost?
Median Sold Price
$600,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oak Ridge Township have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in Oak Ridge Township was $600,000 in May 2024, up 14.7% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157K | - | N/A |
| 2 Bedrooms | $479K | $235K | -50.9% |
| 3 Bedrooms | $412K | $436K | +5.8% |
| 4 Bedrooms | $620K | $679.9K | +9.7% |
| 5+ Bedrooms | $615K | - | N/A |
Summary: Oak Ridge Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 50.9%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Oak Ridge | $566.7K | $678.4K | +19.7% |
| Oak Ridge Township | $523K | $600K | +14.7% |
| Stokesdale | $440K | $460K | +4.5% |
| Bruce Township | $563K | $580K | +3.0% |
Housing Supply in Oak Ridge Township, NC
How many homes are available in Oak Ridge Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 95 | 106 | +11.6% |
Summary: The Oak Ridge Township real estate market had 106 homes for sale in May 2024, a 11.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 68 | 76 | +11.8% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Oak Ridge Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 22 | +83.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Ridge Township, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Oak Ridge Township in May 2024, up by 83.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Oak Ridge Township, NC
How long does it take to sell a home in Oak Ridge Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 54 Days | -2.3% |
Summary: Homes in Oak Ridge Township had an average of 54 days on market in May 2024, down by 2.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oak Ridge Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Oak Ridge Township; 50% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
