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
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech
Untitleddesign5

The Impact of a Growth Mindset

John Monahan - Vistage
Tommytaylor ceo unitedway

How Philanthropy Fits Into Your Financial Plan

Tommy Taylor - United Way

Trending News

Vantaca’s Balancing Act

Audrey Elsberry - May 17, 2024

Channel, UNC Law School Aid Wilmington Small Businesses

Audrey Elsberry - May 16, 2024

Developers Mark Opening Of $78M Apartment Project At Riverlights

Staff Reports - May 17, 2024

Two Apartment Projects Pitched For Kerr Avenue

Emma Dill - May 17, 2024

As Hurricane Season Heats Up, How Do Builders, Laws Prep Homes For Storms?

Emma Dill - May 17, 2024

In The Current Issue

Half Marathon Takes Whole Race State Title

The top half marathon in each state was crowned based on nearly 20,000 votes from runners across the country....


Area YMCA Continues To Expand

The YMCA of Southeastern North Carolina has about 13,000 members; approximately 11,000 live in the greater New Hanover County area....


Submarine Museum Could Surface Here

​A museum would continue to support those military families and honor submarine veterans but also serve as a way to provide science and math...

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