Real Estate - Residential

Ups And Downs For Brunswick County's Housing Market

By Cece Nunn, posted Jun 18, 2020
The home at 264 E. First St. in Ocean Isle Beach went under contract in May. The list price is $1,575,000 and the listing agent is Joy David. (Photo courtesy of Coldwell Banker Sloane Realty)

Brunswick County’s residential real estate market felt the effects of COVID-19 in May, according to a recent news release from the Brunswick County Association of Realtors.

BCAR's statistics showed decreases in new listings, units sold and total sales. But while listings and sales were down, pending sales increased sharply and the market is ahead of last year’s $1.4 billion pace, the release stated.
“We all knew that May would tell the tale of the coronavirus,” said BCAR CEO Cynthia Walsh in the release. “Given that new listings were down in May, this month’s lower sales numbers are no surprise. May is the first month we’ve seen a drop in sales this year, and we are ahead of last year’s red-hot pace."

At Coldwell Banker Sloane Realty, pending sales in May were up about 5% from May 2019, said Chris Bryan, residential and commercial sales manager for the real estate firm, whose geographic region extends from Shallotte to the North Carolina-South Carolina state line. 

"March was painfully slow," Bryan said of the coronavirus pandemic's effect on the market. "Then towards the end of April, we started seeing more and more activity." 

Walsh expressed optimism for the future.

"While our market hasn’t been totally immune to the effects of COVID-19, overall we are in strong, healthy shape moving into summer,” she said.
According to the statistics, the number of new listings in May decreased 11.3% compared to 2019, dropping from 638 to 566. The number of units sold decreased 29.6%, from 496 to 349.

Average sale prices, the release stated, were up 7.5%, from $282,369 to $303,439. Total sales volume fell 24.4%, from about $140 million to $106 million.

"Pending sales are up 30% over last May, jumping from 525 to 683 -- the highest total so far this year," the release stated. "The number of units sold during May is also higher than any month during the 11 years prior to February 2017.

"January and February 2020 had a similar number of units sold as May 2020, and the numbers for those months were 40% higher than normal."
BCAR also shared year-to-date stats, which paint a rosier picture. The number of units sold so far in 2020 is up 3.7%, increasing from 1,810 to 1,877. Average sale prices increased 9.5%, from $276,739 to $303,095, and total sales volume is up 13.2%, increasing from about $505 million to more than $571 million.
Brunswick County
New Listings

  • May 2020: 566
  • May 2019: 638
  • Increase/Decrease: -11.3%
Units Sold    
  • May 2020: 349
  • May 2019: 496
  • Increase/Decrease: -29.6%
Average Sale Price
  • May 2020: $303,439
  • May 2019: $282,369
  • Increase/Decrease: +7.5
Total Sales Volume
  • May 2020: $105,900,000
  • May 2019: $140,050,000
  • Increase/Decrease: -24.4%
Ico insights


Chris coudriet

New Hanover County Awards $1.3 Million To 130 Local Small Businesses

Chris Coudriet - New Hanover County Government
Mike stonestreet 300x300

Online Meetings: When & How (Part 1 - Board Meetings)

Mike Stonestreet - CAMS (Community Association Management Services)
Dallas headshot 300x300

Where Transferable Value Comes From

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Off The Hook Buys Bennett Brothers Yachts

Christina Haley O'Neal - Jun 29, 2020

Dollar General's Urban Market Concept, DGX, Among New Tenants For River Place

Cece Nunn - Jun 30, 2020

NHRMC's New Patient Tower Opens

Staff Reports - Jun 29, 2020

Potbelly Sandwich Shop To Open Next Week

Jessica Maurer - Jul 1, 2020

COVID-19 Prompts TekMountain Shift To Virtual Model For Startups

Johanna Cano - Jul 1, 2020

In The Current Issue

Using UV Light To Fight Germs

As cases of the novel coronavirus began to grow in the U.S. starting in March, David Greenough remembered his days in the Air Force, when he...

A New Way Of Work

Daily temperature checks and health screenings have become a regular part of the job for many employees heading back into the workplace....

Info Junkie: Rob Campbell

Rob Campbell, who is a veteran, speaker and coach with Rob Campbell Leadership, shares his stop tech and info picks....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`