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

Ico insights



Five Reasons Nearly Half Of New Hires Fail

Hoop Morgan - The Forté Institute, LLC

New Year, New Entrepreneur: Three Opportunities for the Business-Minded in 2018

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Nealjohnson 12191614553

Free Things to Do in Wilmington

Neal Johnson - Network Real Estate

Trending News

Local Airbnb Hosts Earned Nearly $11M In 2017

Cece Nunn - Jan 15, 2018

Business Community Remembers Beth Quinn, Co-founder Of She Rocks

Christina Haley O'Neal - Jan 17, 2018

Investor Buys Leland Industrial Park Property

Cece Nunn - Jan 15, 2018

Piano Bar And Lounge To Fill Aubriana's Downtown Spot

Cece Nunn - Jan 17, 2018

Made Mole Brewing Coming To Oleander Drive This Spring

Jessica Maurer - Jan 17, 2018

In The Current Issue

Megasites Hold Potential For Big Industry

Could the potential for landing the next major employer in the Cape Fear region lie in Brunswick County? Local and regional economic develop...

Economic Development Goals On Deck

The Greater Wilmington Business Journal surveyed local economic development groups for updates on their activities....

Spectrum Expands Its Offerings On Bald Head

Spectrum recently launched new offerings for residential and business customers on Bald Head Island....

Book On Business

The 2017 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes