Print
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

INSIGHTS

SPONSORS' CONTENT
Volety 0020 1121724229

UNCW Hosts Summit To Address Global Marine Science Issues

Aswani Volety - UNCW College of Arts and Sciences
Lr 7992 pp 911712351

Dignity Offers New Final Family Resting Places

Patrick Kelly - Dignity Memorial
1 shaun olsen 300x300

Marco Marsala: A Cautionary Tale

Shaun Olsen - CloudWyze

Trending News

Downtown Hilton Rebranding, Undergoing $8.5M Renovation

Cece Nunn - Nov 17, 2017

Feeding Frenzy

Allison Ballard - Nov 17, 2017

Shallotte Community To Feature Solar Energy, Clean Water Systems

Cece Nunn - Nov 17, 2017

Downtown Growing Into 24-Hour Hub

Christina Haley O'Neal - Nov 17, 2017

First-Time Homebuyers Face Challenges

Cece Nunn - Nov 17, 2017

In The Current Issue

UNCW Survey To Study Economic Impact Of GenX

Economists with the University of North Carolina Wilmington are moving forward with efforts to study the effects of GenX on the regional pop...


In Castle Hayne, A Better Business Crop

North Carolina farmers are getting the latest in tricks of the trade and technological advances through research being conducted at horticul...


Anniversaries: Making Of A Milestone

As Wilmington marks its 278th year of formal incorporation, many local businesses and organization also marked anniversary milestones this y...

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!


Galleries

Videos

2017 Health Care Heroes
Major Developments
WilmingtonBiz Expo - Key Note Lunch with Keynote Lunch with Chip Mahan - 2016