Is Chapel Hill, NC 27516 a buyer’s or seller’s market?

The Chapel Hill housing market right now

In the three months ending August 31, 2026, 22% of homes in Chapel Hill, NC 27516 sold above their list price, the typical home went under contract in 44 days and there were 3.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 168 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 30%, homes sold more slowly (32 days then) and the median sale price held steady to $655,216. Overall, Chapel Hill is less competitive than a year ago, which gives buyers more room.

Within Orange County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell less often over asking than in 60%. On our competition score, Chapel Hill ranks #62 of 424 NC ZIP codes with enough sales (score 49 out of 100).

Nearby, buyers who want less competition could look at Efland 27243 (17% sold over asking) or Hillsborough 27278 (19% sold over asking), while Cedar Grove 27231 (50% sold over asking) and Carrboro 27510 (27% sold over asking) are even more competitive.