Print
Real Estate - Residential

Brunswick County Realtors Report February Inventory Jump, Slight Increase In Homes Sold

By Staff Reports, posted Mar 27, 2024
Home sale prices, the number of homes sold and new listings increased in February in Brunswick County, according to a report this week.

While units sold only rose by 1.8% compared to last February (from 326 in February 2023 to 332 last month), new listings in February jumped 31.5% from 517 last year to 680 this year, a news release stated.

“Last month’s numbers were pretty consistent with what we saw last February,” stated Cynthia Walsh, CEO of the Brunswick County Association Realtors, in the release. “The most significant change from last February was the increase in new listings. While it didn’t make a big difference in our overall level of inventory, this is the most inventory we have had in 12 months.

“In addition to that, our market saw a 25% increase in pending listings compared to January, with about half being new construction homes. The market tends to heat up with the weather, so we expect to see these trends continue as we move into the warm season.”

New homes can explain the inventory increase. Walsh said Wednesday that of Brunswick County’s active listings of homes for sale, about 35% are new construction.

“There’s a demand for new homes. We have the available land to build the homes,” she said. “People want to live here, and I don’t see new construction slowing down any time soon. It’s a big chunk of our market.”

In the February comparisons, the average sales price increased 3%, from $445,860 to $459,581, while the median sales price increased 2%, from $368,320 to $360,585. 

According to the report, the number of units sold through February for the year so far was up 7% compared to the same period last year, from 618 to 662, and the number of new listings increased 24.9%, from 1,015 to 1,268.

The report stated that the year-to-date sales volume through February totaled nearly $309 million, up about 14.5% from $270 million at the same point in 2023. The median sale price increased 2.5%, from $362,790 to $371,979.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Mcwhorter 0005

The Coastal Corridor is Helping Wilmington Startups With Connected Devices for Life Sciences Industry

Heather McWhorter - UNCW Center for Innovation and Entrepreneurship
Cfss headshots parker robert webversion 21422121214

The Latest Solar Scams and What You Can Do to Help Stop Them

Robert Parker - Cape Fear Solar Systems
Dave sweyer 300 x 300

Insights into the 2023 Leasing Market in Wilmington, NC: What You Need to Know

Dave Sweyer - Sweyer Property Management

Trending News

Riverlights Could Add 73 More Townhomes To Mix, Site Plans Show

Staff Reports - Apr 18, 2024

Game Over For Michael Jordan Museum At Project Grace

Audrey Elsberry - Apr 19, 2024

City Approvals Push Forward Plans For Former Wilmington Fire Stations

Emma Dill - Apr 17, 2024

Surf City Embarks On Park’s Construction

Cece Nunn - Apr 19, 2024

Taking Marine Science On The Road

Lynda Van Kuren - Apr 19, 2024

In The Current Issue

Taking Marine Science On The Road

“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...


With Coffee And Cocktails, Owners Mix It Up

Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...


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