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Real Estate - Residential

Brunswick Realtors: Another Year, Another $1B

By Cece Nunn, posted Jan 16, 2020

Brunswick County’s residential real estate market rang up more than $1.4 billion in total sales volume during 2019, up 8.4% from 2018, according to statistics released Thursday by the Brunswick County Association of Realtors (BCAR).

The average sale price, number of new listings and number of units sold were also higher than last year, a BCAR news release stated.
 
“Brunswick County surpassed $1 billion in total sales volume for the third straight year. We saw nearly $130 million in sales during December, a number much higher than any other December in recent history,” said BCAR CEO Cynthia Walsh in the release. “The market consistently demonstrated strength and growth throughout 2019, and we expect that to continue into 2020.”
 
In addition to the increase in sales volume, BCAR reported a 9.6% increase in the number of new listings during 2019, from 6,011 to 6,587. The number of units sold increased by 2.7% from 4,758 to 4,885. The year’s average sale price also increased from 2018, rising from $273,435 to $286,685.
 
December 2019's nearly $130 million in total sales volume represented a 30.7% jump over the previous December's at $99,060,000.

BCAR noted that average sale prices increased more than 17%, from $277,469 to $326,857, topping $300,000 for the first time since mid-2005.

Brunswick County also had six sales of $1 million or more and 50 sales between $500,000 to $999,999.

"Homes are spending an average of 85 days on the market and are selling for approximately 96% of their listed prices," the release stated. "The absorption rate, which is the amount of time it would take to sell the current inventory of homes, is hovering around 4.5 months."
 
Brunswick County housing stats:
 
New Listings

  • December 2019: 339
  • December 2018: 272
  • Increase/Decrease: +24.6%
 
  • 2019 Total: 6,587
  • 2018 Total: 6,011
  • Increase/Decrease: +9.6%
 
Units Sold          
  • December 2019: 396
  • December 2018: 357
  • Increase/Decrease: +10.9%
 
  • 2019 Total: 4,885
  • 2018 Total: 4,758
  • Increase/Decrease: +2.7%
 
Average Sale Price
  • December 2019: $326,857
  • December 2018: $277,469
  • Increase/Decrease: +17.8%
 
  • 2019 Total: $286,685
  • 2018 Total: $273,435
  • Increase/Decrease: +4.8%
 
Total Sales Volume
  • December 2019: $129,440,000
  • December 2018: $99,060,000
  • Increase/Decrease: +30.7%
 
  • 2019 Total: $1,417,960,000
  • 2018 Total: $1,307,842,000
  • Increase/Decrease: +8.4%
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