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 December 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

$275,060

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$11,025(+4.2%)

Key Takeaway

Homes in Burlington have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Burlington was $275,060 in December 2024, up 4.2% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $68.7K$85K
+23.6%
2 $167.5K$175K
+4.5%
3 $262K$274.8K
+4.9%
4 $347.5K$365.5K
+5.2%
5+ $461.9K$489.2K
+5.9%

Summary: Burlington housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Cities

Gibsonville
+13.6%
Rock Creek Township
+7.9%
Burlington
+4.2%
Graham
+2.6%
Elon
-6.4%

Housing Supply in Burlington, NC

How many homes are available in Burlington, NC?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
435396-9.0%

Summary: The Burlington real estate market had 396 homes for sale in December 2024, a 9.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 32
-33.3%
2 7882
+5.1%
3 234200
-14.5%
4 8884
-4.5%
5+ 3228
-12.5%

Summary: The Burlington housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 5.1%, 3 bedroom homes decreased by 14.5%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
8175-7.4%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

21 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. 53.3% of homes here sold below asking price last month.

Summary: A total of 75 homes were sold or pending in Burlington in December 2024, down by 7.4% month-over-month. Of the 75 sold homes, 53% were sold under asking, 19% were sold at asking, and 28% 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

Dec 2023Dec 2024CHANGE
52 Days38 Days-26.3%

Summary: Homes in Burlington had an average of 38 days on market in Dec 2024, down by 26.3% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

10 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 December 2024, 75 homes were sold in Burlington; 60% of homes were sold within 30 days, 27% 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 4 Days Ago

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