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.
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