$189,000
9.30 Acres
Land
Tom J Wiltberger, Listing Office: Compass -- Chapel Hill - Durham
Is Orange County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 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
$608,866
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$26,212(+4.5%)
Key Takeaway
Homes in Orange County have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Orange County was $608,866 in September 2024, up 4.5% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $261K | -24.4% |
| 2 Bedrooms | $301K | $331K | +10.0% |
| 3 Bedrooms | $479.6K | $519.7K | +8.4% |
| 4 Bedrooms | $717.5K | $770.8K | +7.4% |
| 5+ Bedrooms | $960.1K | $975K | +1.5% |
Summary: Orange County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.4%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Counties
| Person County | $286K | $310K | +8.4% |
| Durham County | $401.3K | $423.6K | +5.6% |
| Orange County | $582.6K | $608.8K | +4.5% |
| Alamance County | $315K | $320.4K | +1.7% |
| Caswell County | $262K | $241.5K | -7.8% |
Housing Supply in Orange County, NC
How many homes are available in Orange County, NC?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 498 | 487 | -2.2% |
Summary: The Orange County real estate market had 487 homes for sale in September 2024, a 2.2% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 67 | 67 | 0.0% |
| 3 Bedrooms | 188 | 188 | 0.0% |
| 4 Bedrooms | 156 | 155 | -0.6% |
| 5+ Bedrooms | 78 | 67 | -14.1% |
Summary: The Orange County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 14.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 112 | 101 | -9.8% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
31 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. 51.5% of homes here sold below asking price last month.
Summary: A total of 101 homes were sold or pending in Orange County in September 2024, down by 9.8% month-over-month. Of the 101 sold homes, 51% were sold under asking, 18% were sold at asking, and 31% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 57 Days | 37 Days | -34.9% |
Summary: Homes in Orange County had an average of 37 days on market in Sep 2024, down by 34.9% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
11 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 September 2024, 101 homes were sold in Orange County; 63% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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