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 November 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

$275,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$10,230(+3.9%)

Key Takeaway

Homes in Burlington have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Burlington was $275,000 in November 2024, up 3.9% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $68.7K$85K
+23.6%
2 $167.7K$175K
+4.3%
3 $262.1K$274.6K
+4.8%
4 $354.9K$364K
+2.5%
5+ $461.9K$496.6K
+7.5%

Summary: Burlington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 7.5%.

Median Sold Price Compared To Nearby Cities

Gibsonville
+13.7%
Rock Creek Township
+8.6%
Burlington
+3.9%
Graham
0.5%
Elon
-0.1%

Housing Supply in Burlington, NC

How many homes are available in Burlington, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
436446+2.3%

Summary: The Burlington real estate market had 446 homes for sale in November 2024, a 2.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 32
-33.3%
2 7480
+8.1%
3 236237
0.4%
4 8992
+3.4%
5+ 3435
+2.9%

Summary: The Burlington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 2.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7381+11.0%

Asking Price vs. Sold Price

48 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burlington, you may be able to get a good deal. 59.3% of homes here sold below asking price last month.

Summary: A total of 81 homes were sold or pending in Burlington in November 2024, up by 11.0% month-over-month. Of the 81 sold homes, 59% were sold under asking, 26% were sold at asking, and 15% 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

Nov 2023Nov 2024CHANGE
42 Days40 Days-3.2%

Summary: Homes in Burlington had an average of 40 days on market in Nov 2024, down by 3.2% compared to last year.

Breakdown of Home Sale Times

46 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

12 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 November 2024, 81 homes were sold in Burlington; 57% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 15% 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 2 Days Ago

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