$10,000 Closing Credit*
$2,500,000
5,094 SqFt
6 Beds
•3 Full Baths, 2 Partial
Denise P Kennihan, Jay Kennihan, Listing Office: Chapel Hill Realty Group, Inc.
Is Chapel Hill, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$685,380
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$35,561(+5.5%)
Key Takeaway
Homes in Chapel Hill have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Chapel Hill was $685,380 in November 2024, up 5.5% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $296K | $325K | +9.8% |
| 2 Bedrooms | $315K | $350K | +11.1% |
| 3 Bedrooms | $540.3K | $550K | +1.8% |
| 4 Bedrooms | $762K | $855.8K | +12.3% |
| 5+ Bedrooms | $967.5K | $1.0M | +5.9% |
Summary: Chapel Hill housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Carrboro | $570K | $610K | +7.0% |
| Chapel Hill | $649.8K | $685.3K | +5.5% |
| Triangle Township | $425.2K | $442.4K | +4.1% |
| Durham | $409.7K | $424.6K | +3.7% |
| Chapel Hill Township | $639K | $659.6K | +3.2% |
Housing Supply in Chapel Hill, NC
How many homes are available in Chapel Hill, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 370 | 338 | -8.6% |
Summary: The Chapel Hill real estate market had 338 homes for sale in November 2024, a 8.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 41 | 44 | +7.3% |
| 3 Bedrooms | 126 | 114 | -9.5% |
| 4 Bedrooms | 132 | 116 | -12.1% |
| 5+ Bedrooms | 61 | 52 | -14.8% |
Summary: The Chapel Hill housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 7.3%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes decreased by 14.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 68 | -18.1% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
12 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. 51.5% of homes here sold below asking price last month.
Summary: A total of 68 homes were sold or pending in Chapel Hill in November 2024, down by 18.1% month-over-month. Of the 68 sold homes, 51% were sold under asking, 18% were sold at asking, and 31% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 84 Days | 31 Days | -62.1% |
Summary: Homes in Chapel Hill had an average of 31 days on market in Nov 2024, down by 62.1% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 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 November 2024, 68 homes were sold in Chapel Hill; 65% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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