Brunswick County’s residential real estate market saw its strongest sales so far this year in March, according to an announcement this week.
Sales volume nearly doubled and units sold increased by more than 50%, from 431 to 649 units sold, compared to March 2020, stated a news release from the Brunswick County Association of Realtors.
The March sales volume outpaced every other month in the past five years except for June and July 2020, according to the release.
“I feel like I’m running out of descriptive words and adjectives to describe the continuously red-hot real estate market we are experiencing,” said BCAR CEO Cynthia Walsh in the release. “Prices are up, sales figures are off the chart, and available inventory and the absorption rate are amazingly low."
The county saw nearly $237 million in total sales in March this year, an 85% spike over last March. The absorption rate was 1.5 months.
Walsh said the boom in the real estate market is expected to continue.
"Our total sales in the first quarter were higher than all of 2008, 2009, 2010, 2011 and just slightly lower than 2012," she said. "These numbers are astounding, and we see no indications of a slowdown as we move into summer.“
In other March numbers, the average sales price increased about 23%, from $296,515 to $365,121.
The luxury and higher-end home categories were also busy last month. Twenty homes sold for more than $1 million last month, more than 100 homes sold for between $500,000 and $999,999, and there are two pending sales over $3 million and two over $2 million, according to the release.
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