Is Oak Ridge, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, FL
How much do homes in Oak Ridge, FL cost?
Median Sold Price
$305,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oak Ridge have sold for 7% more than they did a year ago.
Summary: The median home sold price in Oak Ridge was $305,000 in May 2024, up 7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.5K | $143.7K | -2.5% |
| 2 Bedrooms | $228.2K | $204K | -10.6% |
| 3 Bedrooms | $285.5K | $300K | +5.1% |
| 4 Bedrooms | $395K | $394.9K | 0% |
| 5+ Bedrooms | $1.0M | $607.5K | -41.0% |
Summary: Oak Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes decreased by 10.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 41%.
Housing Supply in Oak Ridge, FL
How many homes are available in Oak Ridge, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 68 | +7.9% |
Summary: The Oak Ridge real estate market had 68 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 18 | 20 | +11.1% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Oak Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 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. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Oak Ridge in May 2024, up by 27.3% month-over-month. Of the 14 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Oak Ridge, FL
How long does it take to sell a home in Oak Ridge, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 35 Days | +147.2% |
Summary: Homes in Oak Ridge had an average of 35 days on market in May 2024, up by 147.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 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 May 2024, 14 homes were sold in Oak Ridge; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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. This property is offered without respect to any protected classes in accordance with the law.