$8,134 Closing Credit*
$684,990
3,316 SqFt
3 Beds
•3 Full Baths
W. Scott Wallace, Listing Office: KEYSTONE REALTY GROUP
Is Oak Ridge, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$621,990
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$13,010(-2.0%)
Key Takeaway
Homes in Oak Ridge have sold for 2% less than they did a year ago.
Summary: The median home sold price in Oak Ridge was $621,990 in October 2024, down 2% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157K | $145K | -7.6% |
| 2 Bedrooms | $187.5K | $297K | +58.4% |
| 3 Bedrooms | $360.2K | $449K | +24.6% |
| 4 Bedrooms | $719.9K | $695.9K | -3.3% |
| 5+ Bedrooms | $615K | $492.5K | -19.9% |
Summary: Oak Ridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 58.4%, 3 bedroom homes increased by 24.6%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 19.9%.
Median Sold Price Compared To Nearby Cities
| Stokesdale | $433.7K | $467.4K | +7.8% |
| Oak Ridge Township | $569K | $599.9K | +5.4% |
| Colfax | $427.5K | $419.7K | -1.8% |
| Oak Ridge | $635K | $621.9K | -2.0% |
| Deep River Township | $399.9K | $383K | -4.2% |
Housing Supply in Oak Ridge, NC
How many homes are available in Oak Ridge, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Summary: The Oak Ridge real estate market had 55 homes for sale in October 2024, a 12.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 16 | +33.3% |
| 4 Bedrooms | 36 | 35 | -2.8% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Oak Ridge 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Ridge, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Oak Ridge in October 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 50% were sold at asking, and 13% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 35 Days | -25.6% |
Summary: Homes in Oak Ridge had an average of 35 days on market in Oct 2024, down by 25.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were 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 October 2024, 8 homes were sold in Oak Ridge; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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