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Real Estate - Residential

Brunswick Realtors Say Market Growth Remained Steady In September

By Cece Nunn, posted Oct 21, 2016
Editor's Note: This version includes the corrected number of units sold in September this year and last as provided by the Brunswick County Association of Realtors on Friday evening.

Brunswick County's residential real estate market showed steady growth in September, Realtors said Friday.

But the number of units sold decreased by nearly 5 percent from September 2015 to September 2016, from 343 to 327, according to a corrected release from the Brunswick County Association of Realtors.

The average number of units sold in the third quarter was nearly flat, with only a 1 percent increase, while the total number for the period decreased slightly by 35 units. 

The release said the biggest change from September 2015 was a drop in days on market of more than 20 percent and an absorption rate decrease of more than 28 percent from the same time last year.

The average sales price for the third quarter increased 7.1 percent from last year, and third quarter total sales volume was up 8.3 percent over the same period in 2016, according to the release.

“Brunswick County is an ideal place to live, work, raise a family or retire, and the steady strength of our real estate market bears this out,” said BCAR CEO Cynthia Walsh in the release.  

Walsh said the numbers mean that the market is in "strong shape" for this time of year. 

The September numbers also showed an increase in sales volume over last year, with total sales at nearly $84 million for the month versus about $80 million for September 2015.

Year-to-date sales comparisons were strong in all price ranges, according to the N.C. Regional MLS figures the BCAR released, with higher-end sales showing significant gains.  Home sales in the $400,000 to $449,000 range increased by 32.5 percent over last year, 50 percent in the $650,000-$699,999 range and 80 percent in the $1.1 million to $1,199,999 category.
 
Brunswick home sales in September
Units sold Avg. sale price Listings Total sales volume
2015: 343 $233,427 486 $80,065,550
2016: 327 $256,014 431 $83,720,000
-4.7% 9.7% -11.3% 4.6%
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