Print
Real Estate - Residential

In Brunswick, June Home Sale Numbers Reach Yearly Highs

By Cece Nunn, posted Jul 16, 2015
Built in 1888 and listed for $434,900, this two-bedroom, two-bath home at 318 N. Atlantic Ave. in Southport sold June 11 for $420,000. (Courtesy of Stephanie Bumgarner of Southport Realty)
June home sale totals in Brunswick County reached some of their highest levels so far this year, according to statistics released Thursday.

The number of units sold increased from 228 in June 2014 to 290 during the same period this year, a 27 percent increase, a Brunswick County Association of Realtors news release said.

In addition to total sales, the average selling price and dollar volume for residential real estate in June reached their highest points for 2015 so far. Units sold and dollar volume soared to their highest levels in one month since before 2011, according to the release.

“These latest figures emphasize the forward momentum of real estate sales in Brunswick County,” said Cynthia Cumbie, interim CEO of BCAR, in the release.
 
The total sales volume for June rose nearly 49 percent from the same month the year before, $54.2 million to $80.75 million. The average sales price increased 17.1 percent, from $237,869 to $278,440, the BCAR announced.
 
Cumbie said that houses sold in the $200,000 to $249,999 price range represented the largest amount of sales in June, with an average time on the market of about six months. Three-bedroom homes with an average square footage of 1,638 sold the fastest, with 166 days on the market, according to the release.
 
Cumbie said the most homes were sold in the Southport area and the Brunswick islands, followed closely by Carolina Shores.

A significant sign of improvement in the real estate market is the decrease in months of inventory, Cumbie said in the release.
 
“Months of inventory has been trending downward all year, with June reaching a 2015 low of 8.3 months, which is down from 16.4 months in January,” she said. “This means if sales continue on the same path they did last month, we have about eight months of inventory left.”

The inventory in historic Southport is extremely low, said Pamela Frandano, a broker and owner of Southport Realty. 

"Well-priced properties are tending to sell very quickly with multiple offers, if they’re well priced," she said, adding that many buyers are very savvy, having conducted extensive market research before looking for a home.

Frandano said while baby boomers are still among current Southport homebuyers, the city has also attracted younger retirees and people who want second homes.
 
Brunswick County's single-family home sales stats for June
Listings Units sold Avg. sale price Total volume Lots sold Avg. lot sale price
2014: 369 228 $237,869 $54,234,216 82 $65,638
2015: 443 290 $278,440 $80,747,730 78 $99,711
20.1% 27.2% 17.1% 48.9% -4.9% 51.9%

 
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign2 4523114356

Cybersecurity and Productivity: Striking the Perfect Balance for Business Success

Barrett Earney - EarneyIT
Tommytaylor ceo unitedway

How Philanthropy Fits Into Your Financial Plan

Tommy Taylor - United Way
Untitleddesign7

Mastering ARC Applications: Best Practices for HOA Board Members

Dave Orr - Community Association Management Services

Trending News

Passenger Rail Study Picks Eastern Route

Emma Dill - May 3, 2024

Entrepreneur Brings Young Tech Startup From Triangle To Wilmington

Audrey Elsberry - May 3, 2024

Biden To Announce National $3B Lead Pipe Replacement Project In Wilmington Visit

Audrey Elsberry - May 2, 2024

The Husk, YoSake Sell In Downtown Wilmington

Jessica Maurer - May 3, 2024

UPDATE: Biden Shares Details On National Lead Pipe Funding At Wilmington Talk

Audrey Elsberry - May 2, 2024

In The Current Issue

Live Oak Talks Rate Environment

Wilmington-based Live Oak Bank is surfing the uncertain waters, dodging other small business banks’ lending under market value and preparing...


CEA Emerging Company Winner: Software Tackles Addiction Solutions

After Stevie Burke lost a friend to an overdose, he committed himself to finishing what that friend had started – a platform for people stru...


CEA Retail & Hospitality Winner: Marketing Mead To The Masses

As Southeastern North Carolina’s only commercial mead maker, Retro Meadery has given many local customers their first taste of mead – a ferm...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season