The housing market in Oak Island continues to see strong price appreciation, with values up 15.7% compared to last year. Home prices have decreased 2.7% in the past month. With 4.3 months of supply, Oak Island's inventory levels remain relatively tight. Homes are taking about 36 days to sell, which is 3 days longer than this time last year. Only 11.9% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Oak Island market with the affordability index at 330.8. Based on current market indicators, home prices in Oak Island are projected to decrease by approximately 3.7% over the next month.