Is Chapel Hill, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Chapel Hill has remained a Seller's Market.
Housing Prices in Chapel Hill, TN
How much do homes in Chapel Hill, TN cost?
Median Sold Price
$362,355
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Chapel Hill was $362,355 in April 2024, up 5.5% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $680K | - | N/A |
2 Bedrooms | $246.8K | $266.6K | +8.0% |
3 Bedrooms | $328.7K | $367K | +11.6% |
4 Bedrooms | $362.8K | $359K | -1.0% |
5+ Bedrooms | $425.4K | $413.5K | -2.8% |
Summary: Chapel Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 11.6%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in Chapel Hill, TN
How many homes are available in Chapel Hill, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
43 | 48 | +11.6% |
Summary: The Chapel Hill real estate market had 48 homes for sale in April 2024, a 11.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 33 | 32 | -3.0% |
4 Bedrooms | 5 | 11 | +120.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Chapel Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 120%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Chapel Hill in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 50% were sold at asking, and 10% were sold over asking.
Days on Market for Chapel Hill, TN
How long does it take to sell a home in Chapel Hill, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 25 Days | -24.6% |
Summary: Homes in Chapel Hill had an average of 25 days on market in Apr 2024, down by 24.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Chapel Hill; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.