Real Estate - Residential

Home Sales Strong In First Half Of 2017, Brunswick Realtors Report

By Cece Nunn, posted Jul 24, 2017
A home for sale in the Brunswick County town of Shallotte. (Photo courtesy of Brunswick County Association of Realtors)
Brunswick County’s residential real estate market showed strong, steady growth in the first half of 2017 and in June, with sales volume continuing to increase, according to statistics released Monday by the Brunswick County Association of Realtors.
“All signs indicate that we can expect the steady growth we’ve experienced in the first half of 2017 to continue,” BCAR CEO Cynthia Walsh said in a news release.
The residential real estate market for the first half of 2017 saw a 10 percent rise in new listings, 9 percent more sales, a 37 percent higher average sales price and 37 percent more total sales volume compared to the first half of 2016, according to the release. 
The average number of days a home spends on the market — from listing to accepted offer — is still just under four months, the BCAR report said. The absorption rate, which measures how long it would take to sell the existing inventory at the current rate of sales, is now six months.
The average home sold in Brunswick County is a three-bedroom, two-and-a-half-bathroom house of about 1,800 square feet with a price of about $254,000. In the first half of 2017, most residential sales have been in the $150,000-$299,999 range, the release said.
“The total number of active and available homes for sale is getting smaller,” Walsh said in the release. “We are not to the point where bidding wars have become common, but we are not showing any signs of a market cooldown.”
Brunswick County Association of Realtors home sales for June
  New listings Units sold Average sales price Total sales volume
2017 540 519 $253,842 $131.7M
2016 489 386 $236,190 $91M
% change 10.4 34.5 7.5 44.5

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