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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Ridge Township is a seller's market

Buyer's
Market

Difference Since November 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

$594,000

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$12,500(+2.1%)

Key Takeaway

Homes in Oak Ridge Township have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Oak Ridge Township was $594,000 in November 2024, up 2.1% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $157K$145K
-7.6%
2 $245K$215K
-12.2%
3 $425K$440K
+3.5%
4 $679.1K$656.4K
-3.3%
5+ $615K$376.2K
-38.8%

Summary: Oak Ridge Township 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 decreased by 12.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 38.8%.

Median Sold Price Compared To Nearby Cities

Stokesdale
+9.2%
Bruce Township
+3.9%
Oak Ridge Township
+2.1%
Oak Ridge
-3.5%

Housing Supply in Oak Ridge Township, NC

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
116123+6.0%

Summary: The Oak Ridge Township real estate market had 123 homes for sale in November 2024, a 6.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 3742
+13.5%
4 7576
+1.3%
5+ 45
+25.0%

Summary: The Oak Ridge Township 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 13.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1822+22.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 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 Ridge Township, you may be able to get a good deal. 59.1% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Oak Ridge Township in November 2024, up by 22.2% month-over-month. Of the 22 sold homes, 59% were sold under asking, 23% were sold at asking, and 18% 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

Nov 2023Nov 2024CHANGE
25 Days61 Days+138.3%

Summary: Homes in Oak Ridge Township had an average of 61 days on market in Nov 2024, up by 138.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 22 homes were sold in Oak Ridge Township; 50% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 27% 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 22 Days Ago

Newest Listings in Oak Ridge Township, NC

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