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 May 2023
Since last year, Chapel Hill Township has remained a Seller's Market.
Housing Prices in Chapel Hill Township, NC
How much do homes in Chapel Hill Township, NC cost?
Median Sold Price
$641,504
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chapel Hill Township was $641,504 in May 2024, up 5.6% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $320K | +14.3% |
2 Bedrooms | $291.7K | $325K | +11.4% |
3 Bedrooms | $509K | $543.1K | +6.7% |
4 Bedrooms | $734.8K | $800.1K | +8.9% |
5+ Bedrooms | $899.5K | $1.0M | +11.2% |
Summary: Chapel Hill Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
Carrboro | $520K | $602.5K | +15.9% |
Chapel Hill Township | $607.5K | $641.5K | +5.6% |
Triangle Township | $419.8K | $440K | +4.8% |
Chapel Hill | $625.1K | $650.1K | +4.0% |
Durham Township | $401.6K | $412.1K | +2.6% |
Housing Supply in Chapel Hill Township, NC
How many homes are available in Chapel Hill Township, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
446 | 486 | +9.0% |
Summary: The Chapel Hill Township real estate market had 486 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 14 | -12.5% |
2 Bedrooms | 65 | 67 | +3.1% |
3 Bedrooms | 139 | 156 | +12.2% |
4 Bedrooms | 136 | 154 | +13.2% |
5+ Bedrooms | 90 | 95 | +5.6% |
Summary: The Chapel Hill Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
117 | 143 | +22.2% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
78 Homes Were Sold
Over Asking
Summary: A total of 143 homes were sold or pending in Chapel Hill Township in May 2024, up by 22.2% month-over-month. Of the 143 sold homes, 29% were sold under asking, 16% were sold at asking, and 55% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 11 Days | -79.7% |
Summary: Homes in Chapel Hill Township had an average of 11 days on market in May 2024, down by 79.7% compared to last year.
Breakdown of Home Sale Times
126 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 143 homes were sold in Chapel Hill Township; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.