Is Burlington, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burlington is a seller's market

Buyer's
Market

Difference Since May 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

$264,950

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,054(-1.9%)

Key Takeaway

Homes in Burlington have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Burlington was $264,950 in May 2024, down 1.9% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $120K$75K
-37.5%
2 $160K$175K
+9.4%
3 $260K$265.4K
+2.1%
4 $380K$355K
-6.6%
5+ $470K$498K
+6.0%

Summary: Burlington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.5%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 6%.

Median Sold Price Compared To Nearby Cities

Gibsonville
+9.0%
Elon
+4.3%
Rock Creek Township
+3.9%
Burlington
-1.9%
Graham
-3.1%

Housing Supply in Burlington, NC

How many homes are available in Burlington, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
379394+4.0%

Summary: The Burlington real estate market had 394 homes for sale in May 2024, a 4.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 6060
0.0%
3 198195
-1.5%
4 96111
+15.6%
5+ 2225
+13.6%

Summary: The Burlington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 13.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
94127+35.1%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

46 Homes Were Sold
At Asking

37 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burlington, expect to pay close to the asking price. 36.2% of homes here sold near the asking price last month.

Summary: A total of 127 homes were sold or pending in Burlington in May 2024, up by 35.1% month-over-month. Of the 127 sold homes, 35% were sold under asking, 36% were sold at asking, and 29% 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

May 2023May 2024CHANGE
42 Days31 Days-25.5%

Summary: Homes in Burlington had an average of 31 days on market in May 2024, down by 25.5% compared to last year.

Breakdown of Home Sale Times

90 Homes Were Sold
Under 30 Days

21 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Burlington are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 127 homes were sold in Burlington; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Burlington, NC

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