Is Chapel Hill, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$651,138
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Chapel Hill was $651,138 in June 2024, up 3.3% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $330.1K | +17.9% |
2 Bedrooms | $301K | $332.1K | +10.3% |
3 Bedrooms | $510.3K | $548.5K | +7.5% |
4 Bedrooms | $743.3K | $818K | +10.0% |
5+ Bedrooms | $908.8K | $984.9K | +8.4% |
Summary: Chapel Hill housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
Carrboro | $526.5K | $590K | +12.1% |
Triangle Township | $418.6K | $442.1K | +5.6% |
Durham | $400.8K | $417.5K | +4.2% |
Chapel Hill Township | $619.6K | $644.6K | +4.0% |
Chapel Hill | $630.1K | $651.1K | +3.3% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
459 | 425 | -7.4% |
Summary: The Chapel Hill real estate market had 425 homes for sale in June 2024, a 7.4% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 55 | 50 | -9.1% |
3 Bedrooms | 153 | 136 | -11.1% |
4 Bedrooms | 149 | 135 | -9.4% |
5+ Bedrooms | 90 | 92 | +2.2% |
Summary: The Chapel Hill housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 2.2%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
140 | 107 | -23.6% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Summary: A total of 107 homes were sold or pending in Chapel Hill in June 2024, down by 23.6% month-over-month. Of the 107 sold homes, 42% were sold under asking, 13% were sold at asking, and 45% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
66 Days | 19 Days | -69.8% |
Summary: Homes in Chapel Hill had an average of 19 days on market in Jun 2024, down by 69.8% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During June 2024, 107 homes were sold in Chapel Hill; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.