CHAPEL HILL AREA HOUSING MARKET DATA

There was an increase in total units sold in February, with 61 sold this month in Chapel Hill Area Real Estate versus 57 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 19% versus February 2024.

Versus last year, the total number of homes available this month is higher by 7 units or 4%. The total number of active inventory this February was 187 compared to 180 in February 2024. This month's total of 187 is lower than the previous month's total supply of available inventory of 192, a decrease of 3%.

Last February, the median sale price for Chapel Hill Area Homes was $540,000. This February, the median sale price was $596,000, an increase of 10% or $56,000 compared to last year. The current median sold price is 5% lower than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In February, there was 3.1 months of supply available in Chapel Hill Area, compared to 2.4 in February 2024. That is an increase of 28% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 122 homes newly listed for sale in Chapel Hill Area compared to 136 in February 2024, a decrease of 10%. There were 111 current contracts pending sale this February compared to 101 a year ago. The number of current contracts is 10% higher than last February.

In February, the average sale price in Chapel Hill Area was 99.5% of the average list price, which is 1.6% higher than at this time last year.

This month, the average number of days on market was 52, lower than the average last year, which was 79, a decrease of 34%.





FOCUS ON: CHAPEL HILL AREA HOUSING MARKET			FEBRUARY 2025

Zip Code(s): 27510, 27514, 27516 and 27517
Units Sold 61	Active Inventory 187	Median Sale Price $596,000	Days On Market 52

Down -19% Vs. Year Ago	Up 4% Vs. Year Ago	Up 10% Vs. Year Ago	Down -34% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 61 sold this month in Chapel Hill Area Real Estate versus 57 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 19% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 7 units or 4%. The total number of active inventory this February was 187 compared to 180 in February 2024. This month's total of 187 is lower than the previous month's total supply of available inventory of 192, a decrease of 3%.
		Median Sale Price Last February, the median sale price for Chapel Hill Area Homes was $540,000. This February, the median sale price was $596,000, an increase of 10% or $56,000 compared to last year. The current median sold price is 5% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 122	Current Contracts 111	Sold Vs. List Price 99.5%	Months of Supply 3.1

Down -10% Vs. Year Ago	Up 10% Vs. Year Ago	Up 1.6% Vs. Year Ago	Up 28% Vs. Year Ago


		Months of Supply In February, there was 3.1 months of supply available in Chapel Hill Area, compared to 2.4 in February 2024. That is an increase of 28% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 122 homes newly listed for sale in Chapel Hill Area compared to 136 in February 2024, a decrease of 10%. There were 111 current contracts pending sale this February compared to 101 a year ago. The number of current contracts is 10% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Chapel Hill Area was 99.5% of the average list price, which is 1.6% higher than at this time last year. Days on Market This month, the average number of days on market was 52, lower than the average last year, which was 79, a decrease of 34%.


	Chapel Hill Area are defined as properties listed in zip code/s 27510, 27514, 27516 and 27517.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.