$110,000
0.71 Acres
Land
Listing Office: SVN I Wood Properties
Is Oak Ridge, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Oak Ridge has remained a Seller's Market.
Key Takeaway
Oak Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak Ridge, TN
How much do homes in Oak Ridge, TN cost?
Median Sold Price
$347,290
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,290(+8.5%)
Key Takeaway
Homes in Oak Ridge have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Oak Ridge was $347,290 in November 2024, up 8.5% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $185K | N/A |
| 2 Bedrooms | $205K | $210K | +2.4% |
| 3 Bedrooms | $302.5K | $320K | +5.8% |
| 4 Bedrooms | $419.8K | $427.3K | +1.8% |
| 5+ Bedrooms | $520.5K | $589.2K | +13.2% |
Summary: Oak Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in Oak Ridge, TN
How many homes are available in Oak Ridge, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 154 | 140 | -9.1% |
Summary: The Oak Ridge real estate market had 140 homes for sale in November 2024, a 9.1% decrease 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 | 16 | 19 | +18.8% |
| 3 Bedrooms | 86 | 75 | -12.8% |
| 4 Bedrooms | 38 | 30 | -21.1% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
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 increased by 18.8%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 26 | -39.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 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. 46.2% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Oak Ridge in November 2024, down by 39.5% month-over-month. Of the 26 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% were sold over asking.
Days on Market for Oak Ridge, TN
How long does it take to sell a home in Oak Ridge, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 41 Days | +156.7% |
Summary: Homes in Oak Ridge had an average of 41 days on market in Nov 2024, up by 156.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were 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, 26 homes were sold in Oak Ridge; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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