$7,092 Closing Credit*
$597,200
1,931 SqFt
4 Beds
•2 Full Baths, 1 Partial
Ewa Orocz, Listing Office: Triangle Home Experts
Is Chapel Hill, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Chapel Hill has remained a Seller's Market.
Key Takeaway
Chapel Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chapel Hill, NC
How much do homes in Chapel Hill, NC cost?
Median Sold Price
$679,296
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,479(+4.5%)
Key Takeaway
Homes in Chapel Hill have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Chapel Hill was $679,296 in October 2024, up 4.5% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $340.3K | +21.6% |
| 2 Bedrooms | $318.5K | $343.2K | +7.8% |
| 3 Bedrooms | $540.5K | $550K | +1.7% |
| 4 Bedrooms | $760K | $846.3K | +11.4% |
| 5+ Bedrooms | $985K | $1.0M | +2.8% |
Summary: Chapel Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Carrboro | $572.5K | $610K | +6.6% |
| Triangle Township | $424.7K | $446.1K | +5.1% |
| Chapel Hill | $649.8K | $679.2K | +4.5% |
| Durham | $407.4K | $424.7K | +4.2% |
| Chapel Hill Township | $634.7K | $653K | +2.9% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 366 | 383 | +4.6% |
Summary: The Chapel Hill real estate market had 383 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 13 | +30.0% |
| 2 Bedrooms | 47 | 46 | -2.1% |
| 3 Bedrooms | 136 | 126 | -7.4% |
| 4 Bedrooms | 119 | 132 | +10.9% |
| 5+ Bedrooms | 54 | 66 | +22.2% |
Summary: The Chapel Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 81 | 77 | -4.9% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chapel Hill, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 77 homes were sold or pending in Chapel Hill in October 2024, down by 4.9% month-over-month. Of the 77 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Chapel Hill, NC
How long does it take to sell a home in Chapel Hill, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 56 Days | 41 Days | -26.4% |
Summary: Homes in Chapel Hill had an average of 41 days on market in Oct 2024, down by 26.4% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chapel Hill are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 77 homes were sold in Chapel Hill; 61% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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