Red Oak's real estate market is currently hot with low inventory and high demand. Home prices have increased 32.5% in the past month alone. At the current pace, all available homes in Red Oak would sell out in just 1.5 months, indicating a continued supply shortage. Homes are now taking an average of 102 days to sell, significantly longer than the 48 days typical for this market. Only 0.0% of listings saw price reductions, suggesting sellers are confident in their pricing. Approximately 16.7% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Red Oak market with the affordability index at 684.9. Based on current market indicators, home prices in Red Oak are projected to decrease by approximately 17.6% over the next month.