The Oaks Chapel Hill Neighborhood Market Statistics 2011

Homes on the market now in the Oaks

One year ago I wrote:
Wow! There were twice as many expired than closed. Price range and condition makes a big difference.

But the picture really changed in 2011. I’ve felt that the market was improving in The Oaks and other Chapel Hill neighborhoods but the snapshop of 2010 compared to 2011 really tells the story.
Compare the stats below for The Oaks in 2010 and then 2011. I think The Oaks has had the most significant market improvement of any Chapel Hill neighborhood.
Based on information from the Triangle MLS from 2010 (click to enlarge)

The Oaks, Chapel Hill 2010

Now look at The Oaks in 2011!

Based on information from the Triangle MLS from 2011 (click to enlarge)

The Oaks Chapel Hill 2011

Neighborhood Overview

The Oaks surrounds Chapel Hill Country Club. The first phase of the neighborhood was developed in the 1970′s. In the 1980′s a local developer and builder developed a new section of the neighborhood with most of the homes located in the Chapel Hill School District and a smaller section located in Durham County with Durham County Schools. Both areas have a Chapel Hill address so it’s important to specify what county on your searches if the school system is important to you.

Homes in The Oaks are of varying styles and sizes. Golf course lots have always had a premium and the largest and most expensive homes have a great golf course view.

In 2011 the sold prices in the neighborhood ranged from $400,000 to 1.825 million.

The neighborhood streets are fairly manicured but as time has gone on trees have grown up and the landscaping has matured. When I drive clients through the Oaks I often hear “this is so beautiful”.  The homes are pricey though and when we take a look at what’s available, other neighborhoods in Chapel Hill are often the first choice.