Spring has sprung a bit early in Chapel Hill but so far there are still few homes for sale for middle income buyers.
This week’s sole option is an, um, aggressively lived in 2 bedroom, 2.5 bath condo with 1,150 square feet (much of Chapel Hill’s NOAH, naturally occurring affordable housing, is in poor condition – there’s a reason people elect to pay more to live in the “luxury” apartment buildings that so many homeowners detest).
This condo is close to Bolin Creek. So close, in fact, that Redfin says it is at “extreme risk” of flooding. That’s another pattern worth noting: to the extent that we have lower cost housing in Chapel Hill, it tends to be located in places that flood.
On the other end of the spectrum, there are eight $1,000,000+ homes for sale. The cheapest is a $1.15m duplex that has historically been a student rental. The most expensive home for sale is a $6m single family home on 1.5 acres. It includes a pool house that’s big enough for 2-3 families but because of our zoning can only be used by the same family living in the main house.
| Week of: | Homes for sale ≤ $275,000 |
Homes for sale ≥ $1 million |
|---|---|---|
| January 23, 2023 | There is 1 condo for sale for $149,900. | There are 9 homes available ranging in price from $1,000,000 to $6,000,000. All 9 are single family homes. |
| February 7, 2023 | There is 1 condo for sale for $150,000. | There are 7 homes available ranging in price from $1,450,000 to $6,000,000. All 7 are single family homes. |
| February 21, 2023 | There is one condo for sale for $245,000. | There are 8 homes available ranging in price from $1,150,000 to $6,000,000. Seven of the eight homes for sale are single family homes. |