Is Chapel Hill, TN 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 has remained a Seller's Market.
Housing Prices in Chapel Hill, TN
How much do homes in Chapel Hill, TN cost?
Median Sold Price
$369,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chapel Hill was $369,000 in May 2024, up 9.9% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $680K | - | N/A |
2 Bedrooms | $246.8K | $266.6K | +8.0% |
3 Bedrooms | $323.8K | $375K | +15.8% |
4 Bedrooms | $362.3K | $360.9K | -0.4% |
5+ Bedrooms | $425.4K | $413.5K | -2.8% |
Summary: Chapel Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in Chapel Hill, TN
How many homes are available in Chapel Hill, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 56 | +16.7% |
Summary: The Chapel Hill real estate market had 56 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 31 | 38 | +22.6% |
4 Bedrooms | 12 | 12 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chapel Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 22.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Chapel Hill in May 2024, down by 8.3% month-over-month. Of the 11 sold homes, 64% were sold under asking, 36% were sold at asking, and 0% were sold over asking.
Days on Market for Chapel Hill, TN
How long does it take to sell a home in Chapel Hill, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 22 Days | +7.9% |
Summary: Homes in Chapel Hill had an average of 22 days on market in May 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Chapel Hill; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.