$2,945 Closing Credit*
$248,000
1,231 SqFt
3 Beds
•2 Full Baths
Jay A Jackson, Listing Office: Coldwell Banker HPW
Is Orange County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Orange County has remained a Seller's Market.
Key Takeaway
Orange County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orange County, NC
How much do homes in Orange County, NC cost?
Median Sold Price
$621,196
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,846(+6.1%)
Key Takeaway
Homes in Orange County have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Orange County was $621,196 in October 2024, up 6.1% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $340.3K | +6.4% |
| 2 Bedrooms | $306K | $334.1K | +9.2% |
| 3 Bedrooms | $489.3K | $521.2K | +6.5% |
| 4 Bedrooms | $721K | $773K | +7.2% |
| 5+ Bedrooms | $975.5K | $975K | -0.1% |
Summary: Orange County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Counties
| Person County | $284.9K | $316.9K | +11.2% |
| Orange County | $585.3K | $621.1K | +6.1% |
| Durham County | $405.2K | $422.6K | +4.3% |
| Alamance County | $315K | $321.8K | +2.2% |
| Caswell County | $264.7K | $241.5K | -8.8% |
Housing Supply in Orange County, NC
How many homes are available in Orange County, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 482 | 518 | +7.5% |
Summary: The Orange County real estate market had 518 homes for sale in October 2024, a 7.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 14 | +40.0% |
| 2 Bedrooms | 67 | 72 | +7.5% |
| 3 Bedrooms | 187 | 189 | +1.1% |
| 4 Bedrooms | 155 | 167 | +7.7% |
| 5+ Bedrooms | 63 | 76 | +20.6% |
Summary: The Orange County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 20.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 105 | 112 | +6.7% |
Asking Price vs. Sold Price
59 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orange County, you may be able to get a good deal. 52.7% of homes here sold below asking price last month.
Summary: A total of 112 homes were sold or pending in Orange County in October 2024, up by 6.7% month-over-month. Of the 112 sold homes, 53% were sold under asking, 22% were sold at asking, and 25% were sold over asking.
Days on Market for Orange County, NC
How long does it take to sell a home in Orange County, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 43 Days | -18.5% |
Summary: Homes in Orange County had an average of 43 days on market in Oct 2024, down by 18.5% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orange County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 112 homes were sold in Orange County; 60% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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