It’s taken a while but we finally have more than one home for sale for middle-income buyers in Chapel Hill.

This week’s two options are in the same condo complex near Bolin Creek, which Redin describes as at “extreme risk” of flooding. As I noted three weeks ago, much of Chapel Hill’s relatively affordable housing is located in flood-prone areas.

There are also more $1 million+ homes available this week, for a total of 11. The cheapest is a newly listed $1.09m home with over 3,400 square feet on eight-tenths of an acre. The most expensive home for sale remains a $6m single-family home on 1.5 acres. The latter home is located in a neighborhood where multiple neighbors recently hired an attorney to oppose the town’s proposed housing choices proposal, which would enable multiple modest-sized homes to be built on parcels of land where today only one home can be built.

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.
March 13, 2023 There are two condos for sale, one for $239k and one for $235k. There are 11 homes for sale ranging from $1,085,000 to $6,000,000. All 11 are single-family homes.
Table is baed on TBB’s review of Redfin.com listings of existing homes for sale within Chapel Hill town limits. Unbuilt spec homes and homes under contract are excluded. Table includes active listings in Chapel Hill for homes less than or equal to $275,000 (i.e., affordable for a household with an income of $77,000, no debt, and making a $20,000 down payment) or for sale for $1 million or more (which would be affordable for a household with an income of $250,000 making a $200,000 down payment).

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Stephen Whitlow lives in Chapel Hill. Trained as an urban planner at DCRP, he works for a research, evaluation, and technical assistance firm and focuses on the areas of housing affordability, fair housing,...