Is Chapel Hill, 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, 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
$653,219
$271/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 $653,219 in April 2024, up 5.9% from last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $267K | $316K | +18.4% |
2 Bedrooms | $300K | $320K | +6.7% |
3 Bedrooms | $500.7K | $539K | +7.6% |
4 Bedrooms | $743.3K | $793.9K | +6.8% |
5+ Bedrooms | $905K | $984.9K | +8.8% |
Summary: Chapel Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
Carrboro | $520K | $575K | +10.6% |
Chapel Hill Township | $600K | $646.4K | +7.7% |
Chapel Hill | $616.7K | $653.2K | +5.9% |
Triangle Township | $420.5K | $438.6K | +4.3% |
Durham | $404.9K | $414.9K | +2.5% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
371 | 379 | +2.2% |
Summary: The Chapel Hill real estate market had 379 homes for sale in April 2024, a 2.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 17 | -10.5% |
2 Bedrooms | 50 | 50 | 0.0% |
3 Bedrooms | 110 | 123 | +11.8% |
4 Bedrooms | 115 | 114 | -0.9% |
5+ Bedrooms | 77 | 75 | -2.6% |
Summary: The Chapel Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.5%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 2.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
97 | 100 | +3.1% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Summary: A total of 100 homes were sold or pending in Chapel Hill in April 2024, up by 3.1% month-over-month. Of the 100 sold homes, 29% were sold under asking, 25% were sold at asking, and 46% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
75 Days | 18 Days | -76.0% |
Summary: Homes in Chapel Hill had an average of 18 days on market in Apr 2024, down by 76% compared to last year.
Breakdown of Home Sale Times
87 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 100 homes were sold in Chapel Hill; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.