Print
Real Estate - Residential

With More Than $2B In Sales, Brunswick County Real Estate Market Sets Record

By Staff Reports, posted Jan 15, 2021
The residential real estate market in Brunswick County set a record in 2020 with more than $2 billion in total sales volume, according to a Brunswick County Association of Realtors report on Friday.

That volume is up 51% compared to 2019, a news release stated.

The year "was full of unknowns and uncertainty, but Brunswick County’s real estate market did more than merely stay consistent – it smashed all expectations,” said BCAR CEO Cynthia Walsh in the release. “Total sales for the year topped $2 billion for the first time ever, and we saw record sales in December compared to last year. These numbers are nothing short of amazing, and I’m excited to see what 2021 holds for our market.”  
 
Brunswick County saw a 6.5% increase in new listings in 2020, going from 6,603 to 7,032. The number of units sold increased by 28.8% from 4,916 to 6,331, and the average sale price increased 17.5%, rising from $290,077 to $340,741.

The largest sale of the year was over $3 million, 16 sales were $2 million or greater, and 248 sales were between $800,000 and $1 million, the release stated.
 
In December, the market also saw increased sales volume, higher prices and a shrinking inventory, according to the release. Total sales volume spiked 65.7% compared to last year, rising from $129 million to more than $214 million.

Average sale prices increased 13.7%, from $326,857 to $371,768. The number of new listings increased 13.6%, rising from 339 to 385, while the number of units sold increased by 45.7%, from 396 to 577.

The inventory of available homes continued to drop, closing out at nearly 1,200 available homes with an absorption rate and days on market of just over two months, according to the release.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Mike stonestreet 300x300

Board Member Boot Camp Part 2: Compliance, ARC, And Pitfalls To Avoid

Mike Stonestreet - CAMS (Community Association Management Services)
Drewsmith copiersplus headshot

How To Handle Insurance For Office Equipment

Drew Smith - Copiers Plus
Connorkeller headshot

Rational Behavior During Irrational Times

Connor Keller - Live Oak Private Wealth

Trending News

New Ownership Dawns For Sunroom Firm

Cece Nunn - Feb 22, 2021

Brunswick County Association Of Realtors Names Officers, Directors

Christina Haley O'Neal - Feb 23, 2021

Roundtable Focuses On Downtown Redevelopment Project

Cece Nunn - Feb 22, 2021

Grateful Graze Delivers At-home Charcuterie Board Experiences

Jessica Maurer - Feb 24, 2021

Craftspace Aims To Raise Up To $150K Through Crowdfunding Campaign

Christina Haley O'Neal - Feb 24, 2021

In The Current Issue

Info Junkie: Ray Pastore

Ray Pastore, associate professor and Esports program coordinator for the University of North Carolina Wilmington, shares his tech and info p...


Lapetus Zooms In On Asian Market

While Lapetus Solutions is a startup based in Wilmington, much of its growth and market has been focused across the world in the Asian conti...


Transit Director Leads Adaptation

Wave Transit’s role in the community’s physical and economic well-being is something Wave’s new executive director, Marie Parker, wants resi...

Book On Business

The 2021 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100