Is Burlington, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Burlington has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $75K | -37.5% |
2 Bedrooms | $160K | $175K | +9.4% |
3 Bedrooms | $260K | $265.4K | +2.1% |
4 Bedrooms | $380K | $355K | -6.6% |
5+ Bedrooms | $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 | $294.5K | $321K | +9.0% |
Elon | $350K | $365K | +4.3% |
Rock Creek Township | $319K | $331.3K | +3.9% |
Burlington | $270K | $264.9K | -1.9% |
Graham | $339.6K | $329K | -3.1% |
Housing Supply in Burlington, NC
How many homes are available in Burlington, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
379 | 394 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 60 | 60 | 0.0% |
3 Bedrooms | 198 | 195 | -1.5% |
4 Bedrooms | 96 | 111 | +15.6% |
5+ Bedrooms | 22 | 25 | +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 2024 | May 2024 | CHANGE |
---|---|---|
94 | 127 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 31 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
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.