Is Burlington, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Burlington has remained a Seller's Market.
Key Takeaway
Burlington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burlington, NC
How much do homes in Burlington, NC cost?
Median Sold Price
$262,606
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Burlington have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Burlington was $262,606 in March 2024, up 1.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $75K | -53.1% |
| 2 Bedrooms | $160K | $170K | +6.3% |
| 3 Bedrooms | $254.4K | $260.2K | +2.3% |
| 4 Bedrooms | $370K | $359.4K | -2.9% |
| 5+ Bedrooms | $475K | $495K | +4.2% |
Summary: Burlington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.1%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Rock Creek Township | $315.3K | $324.7K | +3.0% |
| Elon | $356K | $365K | +2.5% |
| Graham | $321.3K | $329K | +2.4% |
| Burlington | $258.5K | $262.6K | +1.6% |
| Gibsonville | $314.9K | $299K | -5.1% |
Housing Supply in Burlington, NC
How many homes are available in Burlington, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 353 | 387 | +9.6% |
Summary: The Burlington real estate market had 387 homes for sale in March 2024, a 9.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 67 | 65 | -3.0% |
| 3 Bedrooms | 193 | 220 | +14.0% |
| 4 Bedrooms | 67 | 73 | +9.0% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Burlington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 63 | 100 | +58.7% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington, expect to pay close to the asking price. 39% of homes here sold near the asking price last month.
Summary: A total of 100 homes were sold or pending in Burlington in March 2024, up by 58.7% month-over-month. Of the 100 sold homes, 38% were sold under asking, 39% were sold at asking, and 23% were sold over asking.
Days on Market for Burlington, NC
How long does it take to sell a home in Burlington, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 46 Days | -30.1% |
Summary: Homes in Burlington had an average of 46 days on market in Mar 2024, down by 30.1% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burlington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 100 homes were sold in Burlington; 55% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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