$5,403 Closing Credit*
$455,000
2,511 SqFt
5 Beds
•3 Full Baths
Emily Montgomery, Listing Office: simpliHOM
Is Chapel Hill, TN 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, TN
How much do homes in Chapel Hill, TN cost?
Median Sold Price
$389,250
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$46,905(+13.7%)
Key Takeaway
Homes in Chapel Hill have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Chapel Hill was $389,250 in October 2024, up 13.7% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $268K | +7.2% |
| 3 Bedrooms | $330K | $389.7K | +18.1% |
| 4 Bedrooms | $356.6K | $396.4K | +11.2% |
| 5+ Bedrooms | $422K | $439K | +4.0% |
Summary: Chapel Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 4%.
Housing Supply in Chapel Hill, TN
How many homes are available in Chapel Hill, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 61 | +15.1% |
Summary: The Chapel Hill real estate market had 61 homes for sale in October 2024, a 15.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 39 | 45 | +15.4% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chapel Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 14 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 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. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Chapel Hill in October 2024, up by 100.0% month-over-month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 25 Days | -1.6% |
Summary: Homes in Chapel Hill had an average of 25 days on market in Oct 2024, down by 1.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was 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, 14 homes were sold in Chapel Hill; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.