Is Chapel Hill Township, 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 Township has remained a Seller's Market.
Key Takeaway
Chapel Hill Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chapel Hill Township, NC
How much do homes in Chapel Hill Township, NC cost?
Median Sold Price
$646,475
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chapel Hill Township have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Chapel Hill Township was $646,475 in April 2024, up 7.7% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $267K | $316K | +18.4% |
| 2 Bedrooms | $293.2K | $315K | +7.4% |
| 3 Bedrooms | $501.1K | $540.3K | +7.8% |
| 4 Bedrooms | $735K | $782.7K | +6.5% |
| 5+ Bedrooms | $910K | $987.5K | +8.5% |
Summary: Chapel Hill Township 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 7.4%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 8.5%.
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 Township | $404.4K | $411.2K | +1.7% |
Housing Supply in Chapel Hill Township, NC
How many homes are available in Chapel Hill Township, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 391 | 413 | +5.6% |
Summary: The Chapel Hill Township real estate market had 413 homes for sale in April 2024, a 5.6% 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 | 54 | 59 | +9.3% |
| 3 Bedrooms | 114 | 132 | +15.8% |
| 4 Bedrooms | 123 | 123 | 0.0% |
| 5+ Bedrooms | 81 | 82 | +1.2% |
Summary: The Chapel Hill Township 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 increased by 9.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 1.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 103 | 109 | +5.8% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chapel Hill Township, you could pay more than the asking price. 47.7% of homes here sold above asking price last month.
Summary: A total of 109 homes were sold or pending in Chapel Hill Township in April 2024, up by 5.8% month-over-month. Of the 109 sold homes, 28% were sold under asking, 24% were sold at asking, and 48% were sold over asking.
Days on Market for Chapel Hill Township, NC
How long does it take to sell a home in Chapel Hill Township, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 17 Days | -76.3% |
Summary: Homes in Chapel Hill Township had an average of 17 days on market in Apr 2024, down by 76.3% compared to last year.
Breakdown of Home Sale Times
96 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chapel Hill Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 109 homes were sold in Chapel Hill Township; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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