Is Hillsborough, NC 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, Hillsborough has remained a Seller's Market.
Key Takeaway
Hillsborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsborough, NC
How much do homes in Hillsborough, NC cost?
Median Sold Price
$496,800
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hillsborough have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Hillsborough was $496,800 in May 2024, up 12.9% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $550K | +37.5% |
| 2 Bedrooms | $283.7K | $342.5K | +20.7% |
| 3 Bedrooms | $401K | $430K | +7.2% |
| 4 Bedrooms | $615K | $615K | 0.0% |
| 5+ Bedrooms | $775K | $725K | -6.5% |
Summary: Hillsborough housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 20.7%, 3 bedroom homes increased by 7.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Eno Township | $593K | $700K | +18.0% |
| Hillsborough Township | $435K | $494K | +13.6% |
| Hillsborough | $440K | $496.8K | +12.9% |
Housing Supply in Hillsborough, NC
How many homes are available in Hillsborough, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 101 | -1.9% |
Summary: The Hillsborough real estate market had 101 homes for sale in May 2024, a 1.9% decrease 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 56 | 49 | -12.5% |
| 4 Bedrooms | 32 | 38 | +18.8% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Hillsborough 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 24 | -29.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsborough, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Hillsborough in May 2024, down by 29.4% month-over-month. Of the 24 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for Hillsborough, NC
How long does it take to sell a home in Hillsborough, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 20 Days | -61.4% |
Summary: Homes in Hillsborough had an average of 20 days on market in May 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hillsborough are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in Hillsborough; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.