Is Chapel Hill, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chapel Hill has remained a Seller's Market.
Housing Prices in Chapel Hill, NC
How much do homes in Chapel Hill, NC cost?
Median Sold Price
$650,159
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chapel Hill was $650,159 in May 2024, up 4% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $320K | +14.3% |
2 Bedrooms | $300K | $331K | +10.3% |
3 Bedrooms | $509.2K | $540.1K | +6.1% |
4 Bedrooms | $738K | $821K | +11.2% |
5+ Bedrooms | $899K | $990K | +10.1% |
Summary: Chapel Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
Carrboro | $520K | $602.5K | +15.9% |
Chapel Hill Township | $607.5K | $641.5K | +5.6% |
Triangle Township | $419.8K | $440K | +4.8% |
Chapel Hill | $625.1K | $650.1K | +4.0% |
Durham | $403.5K | $415.6K | +3.0% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
411 | 452 | +10.0% |
Summary: The Chapel Hill real estate market had 452 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 14 | -12.5% |
2 Bedrooms | 56 | 54 | -3.6% |
3 Bedrooms | 130 | 148 | +13.8% |
4 Bedrooms | 126 | 145 | +15.1% |
5+ Bedrooms | 83 | 91 | +9.6% |
Summary: The Chapel Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 9.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
107 | 129 | +20.6% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
70 Homes Were Sold
Over Asking
Summary: A total of 129 homes were sold or pending in Chapel Hill in May 2024, up by 20.6% month-over-month. Of the 129 sold homes, 32% were sold under asking, 14% were sold at asking, and 54% were sold over asking.
Days on Market for Chapel Hill, NC
How long does it take to sell a home in Chapel Hill, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
57 Days | 12 Days | -78.6% |
Summary: Homes in Chapel Hill had an average of 12 days on market in May 2024, down by 78.6% compared to last year.
Breakdown of Home Sale Times
112 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 129 homes were sold in Chapel Hill; 87% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.