Troy Stavros - Housing Market Report
Oak Ridge, TN
Single-Family Homes
CornerStone Realty Associates | Broker | 865-999-0925
Oak Ridge, TN
Sun May 19 2024
This week the median list price for Oak Ridge, TN is $439,900 with the market action index hovering around 60. This is an increase over last month's market action index of 58. Inventory has held steady at or around 47.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $439,900 | |
| Median Price of New Listings | $429,900 | |
| Per Square Foot | $191 | |
| Average Days on Market | 77 | |
| Median Days on Market | 35 | |
| Price Decreased | 40% | |
| Price Increased | 4% | |
| Relisted | 2% | |
| Inventory | 47 | |
| Median Rent | ||
| Market Action | 60 | |
| Strong Seller's Market | ||
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $724,900 | 3,607 | 0.5 - 1 acre | 4 | 3.5 | 23 | 2 | 2 | 84 |
| $474,950 | 2,642 | 0.25 - 0.5 acre | 3 | 2.5 | 25 | 1 | 4 | 49 |
| $374,950 | 2,015 | 0.25 - 0.5 acre | 3 | 2.5 | 50 | 3 | 4 | 10 |
| $312,450 | 1,287 | 0.25 - 0.5 acre | 3 | 2 | 81 | 3 | 2 | 17 |