Oak Ridge & Summerfield, NC Housing Happenings – January 2025: Fewer Listings, Longer Waits & Rising Prices!
Grab your coffee (or your favorite beverage) and settle in—it's time for your quirky, data-packed update on the housing market in Oak Ridge and Summerfield for January 2025. We’re diving into the stats with a mix of solid numbers and a dash of humor (because why should real estate be all serious business?).
Single Properties: The Plot Thickens
- New Listings: Down from 29 in 2024 to 23 in 2025 (a 20.7% drop). Looks like sellers are playing hard to get this month!
- Pending Sales: A steep decline from 40 to just 14 – that’s a 65.0% plunge. Buyers, if you’re in the mood for some suspense, the market is serving it up!
- Closed Sales: Holding steady at 20. No surprises here—like that friend who never changes their mind.
- Days on Market Until Sale: Jumped from 38 to 66 days (+73.7%). Homes are taking their sweet time—maybe enjoying a longer stay before saying “I do” to a new owner.
- Median Sales Price: Up from $617,891 to $726,950 (+17.7%). Yes, you read that right—prices are flexing upward!
- Average Sales Price: Also on the rise, from $719,991 to $791,080 (+9.9%).
- Percent of List Price Received: A slight dip from 98.8% to 97.0%. Even if sellers aren’t getting every penny, it’s still pretty close to the asking price.
- Inventory & Months Supply: We see a modest bump in homes for sale (56 to 60, up 7.1%) and a jump in months supply from 2.0 to 2.4 (+20.0%). More homes, more choices—or more reasons to overthink your next move!
Townhouse/Condo Properties: The Niche Nook
- New Listings & Pending Sales: Consistency is key here with 1 listing and 0 pending sales—steady as she goes.
- Closed Sales: A curious drop from 1 to 0 (-100%). Maybe our townhouse folks are waiting for the perfect buyer to emerge from a very exclusive club!
- Days on Market Until Sale: A leisurely 116 days. Not exactly a sprint to the finish, but sometimes slow and steady wins…well, eventually!
- Sales Prices: Both median and average are sitting at a cool $657,960, and they’re rocking a robust 101.4% of the list price received—talk about getting the full value!
- Inventory & Months Supply: Inventory bumped from 2 to 3 (a 50% increase) and months supply jumped from 2.0 to 3.0 (also 50%). More options for those condo connoisseurs!
Wrapping It Up
January 2025 is proving to be a month of contrasts: fewer new listings and pending sales, longer waits for that “SOLD” sign, but with home prices on a steady climb. Whether you're a seller enjoying a bit of extra time or a buyer scouting for the best deal (and a good story), the Triad housing market continues to keep us all on our toes.
Thanks for tuning in to this month’s real estate rollercoaster. Until next time, keep laughing—and maybe keep an eye on those market trends too!
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