Is Chapel Hill, 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, 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
$659,600
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Chapel Hill was $659,600 in March 2024, up 8.7% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $280K | +5.7% |
2 Bedrooms | $302K | $320K | +6.0% |
3 Bedrooms | $502.1K | $535K | +6.5% |
4 Bedrooms | $749.9K | $794K | +5.9% |
5+ Bedrooms | $930K | $980.4K | +5.4% |
Summary: Chapel Hill housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Carrboro | $525K | $572.5K | +9.0% |
Chapel Hill Township | $597.6K | $650K | +8.8% |
Chapel Hill | $606.8K | $659.6K | +8.7% |
Triangle Township | $424.9K | $435.3K | +2.4% |
Durham | $406.5K | $414.8K | +2.1% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
341 | 383 | +12.3% |
Summary: The Chapel Hill real estate market had 383 homes for sale in March 2024, a 12.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 15 | +7.1% |
2 Bedrooms | 42 | 53 | +26.2% |
3 Bedrooms | 108 | 110 | +1.9% |
4 Bedrooms | 109 | 121 | +11.0% |
5+ Bedrooms | 68 | 84 | +23.5% |
Summary: The Chapel Hill housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
75 | 91 | +21.3% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 91 homes were sold or pending in Chapel Hill in March 2024, up by 21.3% month-over-month. Of the 91 sold homes, 33% were sold under asking, 12% were sold at asking, and 55% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
110 Days | 58 Days | -47.2% |
Summary: Homes in Chapel Hill had an average of 58 days on market in Mar 2024, down by 47.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During March 2024, 91 homes were sold in Chapel Hill; 25% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.