$10,000 Closing Credit*
$929,900
3,391 SqFt
4 Beds
•3 Full Baths, 1 Partial
Maureena Shepherd, Listing Office: Allen Tate Oak Ridge - Highway 68
Is Oak Ridge, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Oak Ridge was a Seller's Market.
Key Takeaway
Oak Ridge 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 Ridge, NC
How much do homes in Oak Ridge, NC cost?
Median Sold Price
$617,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$22,500(-3.5%)
Key Takeaway
Homes in Oak Ridge have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in Oak Ridge was $617,500 in November 2024, down 3.5% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157K | $145K | -7.6% |
| 2 Bedrooms | $200K | $266K | +33.0% |
| 3 Bedrooms | $397K | $444.4K | +12.0% |
| 4 Bedrooms | $730K | $684.5K | -6.2% |
| 5+ Bedrooms | $615K | $376.2K | -38.8% |
Summary: Oak Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 33%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 38.8%.
Median Sold Price Compared To Nearby Cities
| Stokesdale | $435K | $475K | +9.2% |
| Oak Ridge Township | $581.5K | $594K | +2.1% |
| Colfax | $427.5K | $430K | +0.6% |
| Oak Ridge | $640K | $617.5K | -3.5% |
| Deep River Township | $397.1K | $379.9K | -4.3% |
Housing Supply in Oak Ridge, NC
How many homes are available in Oak Ridge, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The Oak Ridge real estate market had 62 homes for sale in November 2024, a 10.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 15 | 21 | +40.0% |
| 4 Bedrooms | 37 | 36 | -2.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Oak Ridge housing inventory by bedroom type for November 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 40%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Ridge, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Oak Ridge in November 2024, up by 11.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Oak Ridge, NC
How long does it take to sell a home in Oak Ridge, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 29 Days | +46.4% |
Summary: Homes in Oak Ridge had an average of 29 days on market in Nov 2024, up by 46.4% compared to last year.
Breakdown of Home Sale Times
8 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 Ridge are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Oak Ridge; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
