Is Burlington, NC 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, 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
$264,565
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Burlington have sold for 2.2% less than they did a year ago.
Summary: The median home sold price in Burlington was $264,565 in April 2024, down 2.2% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $75K | -37.5% |
| 2 Bedrooms | $160K | $173K | +8.1% |
| 3 Bedrooms | $262.5K | $264.9K | +0.9% |
| 4 Bedrooms | $380K | $355K | -6.6% |
| 5+ Bedrooms | $472.4K | $498K | +5.4% |
Summary: Burlington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.5%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Gibsonville | $300K | $315K | +5.0% |
| Rock Creek Township | $319.4K | $325.9K | +2.1% |
| Elon | $365K | $365K | 0.0% |
| Graham | $333.7K | $333.2K | -0.2% |
| Burlington | $270.5K | $264.5K | -2.2% |
Housing Supply in Burlington, NC
How many homes are available in Burlington, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 381 | 363 | -4.7% |
Summary: The Burlington real estate market had 363 homes for sale in April 2024, a 4.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 67 | 60 | -10.4% |
| 3 Bedrooms | 216 | 184 | -14.8% |
| 4 Bedrooms | 72 | 93 | +29.2% |
| 5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Burlington 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 10.4%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 99 | 84 | -15.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington, you may be able to get a good deal. 44% of homes here sold below asking price last month.
Summary: A total of 84 homes were sold or pending in Burlington in April 2024, down by 15.2% month-over-month. Of the 84 sold homes, 44% were sold under asking, 25% were sold at asking, and 31% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 36 Days | -9.2% |
Summary: Homes in Burlington had an average of 36 days on market in Apr 2024, down by 9.2% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
11 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 April 2024, 84 homes were sold in Burlington; 68% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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