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Real Estate - Residential

In Brunswick County, February Home Sales Surge

By Cece Nunn, posted Mar 21, 2017
The number of homes sold in Brunswick County rose by more than 13 percent in February compared to the same month last year, according to statistics released this week by the Brunswick County Association of Realtors.

Three bedroom homes selling for $150,000-$199,999 were the largest sellers in February with 32 total sales, and three bedroom homes selling for $200,000-$249,999 were second, with 22 units sold, the BCAR news release said.
 
“Brunswick County’s residential real estate market continues to show growth and strength in all the right places,” said BCAR CEO Cynthia Walsh in the release. “New listings and units sold both increased, and the average sales price for February reached a two-year high. The average number of days on market continues to decrease and is now at 117 days, meaning sellers should be prepared to sell their home in four months or less. Identifying the right price point is a key factor in determining how quickly a home sells."
 
The absorption rate rose slightly from January, climbing to 7.25 months from 6.9 months. According to Walsh, this is likely because of a surge of new listings in January and February.  

The absorption rate means that if sales continue at their current pace, and no new listings are added to the market, it would take 7.25 months to sell all inventory, the release said.

February home sales in the region that covers New Hanover, Pender and northern Brunswick counties showed a nearly 4 percent increase in the number sold, along with gains in other statistics, according to a recent announcement from the Cape Fear Realtors.

 
Brunswick County's February home sales
  Listings Units Sold Avg. Sales Price Total Sales Volume
2017 582 236 $258,791 $61,074,000
2016 544 208 $230,221 $47,890,000
% Change 7% 13.5% 12.4% 27.5%

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