Is Orange County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Orange County has remained a Seller's Market.
Housing Prices in Orange County, NC
How much do homes in Orange County, NC cost?
Median Sold Price
$600,230
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Orange County was $600,230 in April 2024, up 7.1% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $320K | +16.4% |
2 Bedrooms | $295K | $317.5K | +7.6% |
3 Bedrooms | $462.8K | $504.9K | +9.1% |
4 Bedrooms | $709K | $756K | +6.6% |
5+ Bedrooms | $898.3K | $925.5K | +3.0% |
Summary: Orange County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Counties
Caswell County | $210K | $250K | +19.0% |
Orange County | $560.2K | $600.2K | +7.1% |
Person County | $285K | $299.9K | +5.3% |
Durham County | $404.9K | $411.5K | +1.7% |
Alamance County | $319.3K | $315.3K | -1.2% |
Housing Supply in Orange County, NC
How many homes are available in Orange County, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
510 | 531 | +4.1% |
Summary: The Orange County real estate market had 531 homes for sale in April 2024, a 4.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 17 | -10.5% |
2 Bedrooms | 60 | 69 | +15.0% |
3 Bedrooms | 174 | 197 | +13.2% |
4 Bedrooms | 160 | 159 | -0.6% |
5+ Bedrooms | 97 | 89 | -8.2% |
Summary: The Orange County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 13.2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 8.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
141 | 144 | +2.1% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Summary: A total of 144 homes were sold or pending in Orange County in April 2024, up by 2.1% month-over-month. Of the 144 sold homes, 30% were sold under asking, 24% were sold at asking, and 47% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
73 Days | 22 Days | -69.8% |
Summary: Homes in Orange County had an average of 22 days on market in Apr 2024, down by 69.8% compared to last year.
Breakdown of Home Sale Times
121 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 144 homes were sold in Orange County; 84% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.