Print
Real Estate - Residential

Brunswick County Real Estate Stats Fell In August

By Staff Reports, posted Sep 16, 2022
Brunswick County’s real estate market experienced higher prices, fewer homes sold and fewer new listings in August, according to a report this week.

The number of units sold in August dropped 13.8% compared to last year, from 593 to 511, the Brunswick County Association of Realtors (BCAR) stated in a release. 

But Cynthia Walsh, CEO of BCAR, said national talk of a real estate slowdown doesn’t indicate a local problem.

Walsh said, “When looking at these numbers, it’s important to remember just how abnormal the past few years have been. While the number of homes sold is down slightly compared to last year, sales have been pretty much steady month over month for the past two years, generally hovering between 500 and 600 sales per month, with our usual seasonal dip in December, January and February. 

“Overall, our market remains on track to once again do something that was unheard of prior to 2020: surpass $2 billion in total sales before the end of the year.”

The report stated the sales volume in August totaled a little over $232 million last month, a 5.7% decrease from last August’s $246.6 million.

“The average sales price increased 9.4%, from $415,883 to $455,130. New listings were down 10.4%, from 682 to 611,” according to the report. 

Homes spent an average of 26 days on the market, the report stated. The absorption rate, which is the time it would take to sell all available inventory, is two months. 

Brunswick County’s luxury market remained strong in August with 19 sales in excess of $1 million and two sales of $2 million or more.
According to the BCAR report, compiled from the N.C. Regional Multiple Listing Service, year-to-date sales volume through August was $1,741,530,000, down 3.1% from $1,797,989,429 last year. 

The report stated, “Average sales prices for the year are 14.8% higher than 2021, increasing from $383,919 to $440,574. The number of units sold through August is down 17.6%, from 4,666 to 3,846, and the number of new listings is down 9.2%, from 5,135 to 4,664.”
Ico insights

INSIGHTS

SPONSORS' CONTENT
Headshotrosaliecalarco 1182131047

Help Stop Government Impersonator Scams

Screenshot2022 01 06at338 162234623

Food is the Foundation for Prosperous Communities

Girard Newkirk - Genesis Block
Unknown 7112393341

Why Feasibility is Paramount to Success

Holly Segur - Lead Intuitively – Corporate Coaching

Trending News

Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route

Emma Dill - Apr 22, 2024

Severe Weather Postpones Trump Rally In Wilmington

Emma Dill - Apr 20, 2024

Will NC Be CNBC's Three-time Top State For Business?

Audrey Elsberry - Apr 22, 2024

In The Current Issue

Surf City Embarks On Park’s Construction

“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...


MADE: Makers Of Important Papers

W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...


Info Junkie: Lydia Thomas

Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....

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