Is Oak Hill, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Oak Hill was a Seller's Market.
Key Takeaway
Oak Hill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oak Hill, TN
How much do homes in Oak Hill, TN cost?
Median Sold Price
$1,833,700
$486/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oak Hill have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Oak Hill was $1,833,700 in May 2024, up 14.4% from last year, and the median price per square foot was $486.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.2M | $1.4M | +16.7% |
| 3 Bedrooms | $1.0M | $1.0M | -5.8% |
| 4 Bedrooms | $1.5M | $1.7M | +12.4% |
| 5+ Bedrooms | $3.1M | $2.9M | -5.6% |
Summary: Oak Hill 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 increased by 16.7%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Oak Hill | $1.6M | $1.8M | +14.4% |
| Nashville | $513.9K | $531.4K | +3.4% |
| Forest Hills | $2.1M | $1.8M | -13.4% |
Housing Supply in Oak Hill, TN
How many homes are available in Oak Hill, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 55 | 0.0% |
Summary: The Oak Hill real estate market had 55 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 37 | 36 | -2.7% |
Summary: The Oak Hill housing inventory by bedroom type for May 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 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 2.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
6 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 Oak Hill, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Oak Hill in May 2024, the same as the previous month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Oak Hill, TN
How long does it take to sell a home in Oak Hill, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 31 Days | +214.3% |
Summary: Homes in Oak Hill had an average of 31 days on market in May 2024, up by 214.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oak Hill are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Oak Hill; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.