Print
Real Estate - Residential

Regional Home Sales Break Record Set In 2005

By Cece Nunn, posted Jan 23, 2018
Regional home sale numbers for 2017 broke a record set in 2005, according to a year-end report from Cape Fear Realtors.

In the CFR market, which includes New Hanover, Brunswick and Pender counties, more than 10,000 units sold last year, a 14 percent increase over 2016, a CFR report stated. The next-highest number of units sold in a year was 9,347 in 2005.

"We are at the most robust pace we have ever seen," said Fred Gainey, the 2018 president of CFR, in a news release. "Home sales surged in December to finish the year with new record levels."

The CFR housing market finished the year with a median sales price of $219,564 and average sales price of $262,550, about 5.5 percent higher than last year's median and average prices, according to the release.

CFR also provided breakdowns Tuesday of each of the county's performances in December and for the year:

In New Hanover, the average home sales price for December was $296,473 or 3.9 percent higher than December 2016. That's up 8.7 percent year-to-date (YTD) from 2016. There were 390 units sold last month, down by .05 percent from the previous December. "The year ended strong with 5,215 units sold. This is up 4.8 percent from last year. The monthly supply of homes in Dec. 2017 has decreased to 4 months or down from 4.75 months in Dec. 2016. Median Days on Market (DOM) was 32 days, down 7 days from a year ago," the release said. 

In Brunswick, the average home sales price for December was $264,769 or 7.4 percent higher than December 2016, a YTD increase of 7.5 percent. The year finished at a new record high level with 4,647 units sold, a 22.1 percent increase over last year. The Brunswick County Realtors Association reported earlier this month that the county's total sales volume in 2017 had exceeded $1 billion for the first time since 2005.

The average price In Pender last month was $299,083 or nearly 17 percent higher than in December 2016. For the number of units sold, the year finished slightly above last year with 1,394 units sold, up 2.6 percent from last year.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Time, Talent, Then Treasure: How Milestone-based Fundraising Puts Entrepreneurs First

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Billhunter300x300 b&w

The Rise of "No-Click Search Results"

Bill Hunter - Wilmington Design Company
Geofflosee300x300 10221511305

Majority Rules: The Legal Impact of Your Kids Turning 18

Geoffrey Losee - Rountree Losee LLP

Trending News

New Firm Chooses Dutch Square Industrial Park Space For Headquarters

Cece Nunn - May 23, 2018

Live Oak Bank Launches Franchise Restaurant Lending Vertical

Jenny Callison - May 23, 2018

COO Of Wilmington Realtors' Group Hired As CEO Of San Antonio Association

Cece Nunn - May 23, 2018

Marina Grill Launches Riverfront Music Series

Jessica Maurer - May 23, 2018

Cape Fear Serpentarium, Now Closed, Part Of Petition For Private Sale

Cece Nunn - May 22, 2018

In The Current Issue

Addressing The Area’s Food Deserts

“If we can find a model that works, we would like to replicate what we can in other parts of Wilmington or the region,” said Scott Whisnant,...


Block By Block

Hundreds of millions of dollars in major development investment is on the way or in the planning stages for downtown Wilmington, but relativ...


A Ruff Day At The Office: Dogs On The Job

“Having the dog in the office reduces a little bit of stress and brings people together,” said Jennifer Manocchio, president of Sweeney, a p...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast: The Main Event
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes