Is Oak Grove Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Grove Township is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Oak Grove Township was a Seller's Market.

Key Takeaway

Oak Grove Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Oak Grove Township, NC

How much do homes in Oak Grove Township, NC cost?

Median Sold Price

$385,000

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$4,160(+1.1%)

Key Takeaway

Homes in Oak Grove Township have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Oak Grove Township was $385,000 in October 2024, up 1.1% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$160K
N/A
2 $269K$297K
+10.4%
3 $350K$356.9K
+2.0%
4 $449.9K$449.9K
0.0%
5+ $500K$479.9K
-4.0%

Summary: Oak Grove Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 4%.

Median Sold Price Compared To Nearby Cities

Carr Township
+10.5%
Lebanon Township
+4.7%
Durham
+4.2%
Durham Township
+4.1%
Oak Grove Township
+1.1%

Housing Supply in Oak Grove Township, NC

How many homes are available in Oak Grove Township, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
191203+6.3%

Summary: The Oak Grove Township real estate market had 203 homes for sale in October 2024, a 6.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1013
+30.0%
3 101109
+7.9%
4 6261
-1.6%
5+ 1820
+11.1%

Summary: The Oak Grove Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4630-34.8%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Grove Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Oak Grove Township in October 2024, down by 34.8% month-over-month. Of the 30 sold homes, 60% were sold under asking, 27% were sold at asking, and 13% were sold over asking.

Days on Market for Oak Grove Township, NC

How long does it take to sell a home in Oak Grove Township, NC?

Average Sale Time

Oct 2023Oct 2024CHANGE
76 Days33 Days-55.9%

Summary: Homes in Oak Grove Township had an average of 33 days on market in Oct 2024, down by 55.9% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Oak Grove Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 30 homes were sold in Oak Grove Township; 70% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Oak Grove Township, NC

Nearby Markets to Oak Grove Township, NC

What housing markets are near Oak Grove Township, NC?