Red Oak Home Values

Price per square foot in Red Oak edged up to roughly $175 in the trailing quarter, still running below the Ellis County benchmark, but the sharper story is how fast homes are reaching the closing table. Based on MLS data for 2026-07 closings in Red Oak, median time to close fell to under 40 days — a second straight month of compression and well ahead of the trailing annual pace of roughly eight weeks. Sellers continued receiving close to 97 cents on the dollar, with concessions holding near last month's rate at roughly $11,700 on nearly three in four transactions. More than 100 homes closed in the quarter, underscoring a market moving with unusual speed rather than unusual price movement.

Pending contracts in Red Oak fell to just two dozen homes this quarter, even as new listings held near 131 — a widening gap between fresh supply and homes moving toward contract. Months of supply held roughly flat at about five and a half, keeping the pipeline in territory similar to last month, but the pullback in pending activity suggests contract-taking is cooling even as closed sales keep moving quickly. Active inventory near 195 listings gives buyers more to choose from than the pending count suggests is being absorbed.

The negotiation gap between list and sale prices in Red Oak tightened slightly in the latest quarter, with sellers receiving nearly 97 cents on the dollar at closing — a fraction above the Ellis County benchmark. Based on MLS data for 2026-06 closings in Red Oak, homes that reached settlement did so in roughly 54 days, noticeably faster than the trailing annual pace of about 62 days. Price per square foot landed near $173, while nearly three-quarters of closed transactions included seller concessions averaging around $12,200. The acceleration in closed-sale timelines, even as year-over-year prices remain essentially flat, signals that the homes finding buyers are doing so with increasing efficiency.

Red Oak's supply-demand balance shifted meaningfully toward neutral this quarter. Months of supply contracted to roughly five and a half — down from over seven the prior period — though active inventory of 181 homes against 57 pending contracts still reflects measured absorption. New listings entering the market at nearly 158 over the trailing quarter outpace pending volume, keeping supply replenishment ahead of demand uptake. The compression in months of supply marks a directional shift that, if sustained, could narrow the buyer-favorable conditions that have characterized Red Oak's pipeline over recent months.

Red Oak's closed transactions put price per square foot at roughly $169 through the trailing quarter — about nine percent below the Ellis County benchmark — while homes moved to closing faster than the county median of 66 days. Based on MLS data for May 2026 closings in Red Oak, sellers received just under 96 cents on the dollar at settlement, and roughly seven in ten transactions included seller concessions averaging around $12,300. Price appreciation remains essentially flat against the prior year. The combination of relative price accessibility and a faster closed-sale pace distinguishes Red Oak from broader Ellis County conditions.

At 7.1 months of supply, Red Oak's pipeline data leans toward buyer-favorable conditions, though not at an extreme. Active inventory holds steady at 193 homes with 59 pending — a pending-to-active ratio below one-third, suggesting absorption is measured rather than brisk. New listings entering the market over the trailing quarter have outpaced pending activity, indicating supply replenishment is keeping pace with or exceeding demand. Closed-sale duration, running roughly 10 days shorter than the Ellis County average, suggests that correctly priced homes are finding traction faster than broader county patterns.