Print
Real Estate - Residential

Brunswick County Realtors Highlight New Listings Increase In March Report

By Staff Reports, posted Apr 17, 2024

According to a residential real estate report released Wednesday, new listings in Brunswick County increased by nearly 28% in March compared to the same period last year, while units sold fell about 4%.

A news release from the Brunswick County Association of Realtors (BCAR) stated the market in the rapidly growing county experienced a "typical seasonal warmup in March, with new listings increasing by more than a quarter compared to last March and a strong luxury market pushing the average sales price to almost $500,000."

The listings jumped from 610 to 780, and the total sales volume increased 5% compared to March 2023, from $240.6 million to $252.6 million, the release stated. The number of homes sold decreased 3.8%, from 527 to 507.

Homes spent an average of 70 days on the market, decreasing by five days compared to last year. The absorption rate is hovering around 3 months; below five months is generally considered a seller’s market, the release stated.

Cynthia Walsh, CEO of BCAR, stated in the release, “March brought higher prices, driven in part by an extremely strong luxury market, and more homes coming onto the market. Homes are spending slightly fewer days on the market than last year, which indicates that demand remains strong.

"Overall, our market is strong as ever, and I see no indications of a slowdown in the coming months.”

The average sales price in March increased 9.2%, from $456,567 to $498,365 while the median sales price increased 2.2%, from $365,000 to $372,990, according to the release.

Of the 38 luxury home sales ($1 million or more) that took place in March, there were 12 in Ocean Isle Beach, 10 in Oak Island, 10 in Holden Beach, five in Bald Head Island and one in Southport. The two highest sales were a $6 million sale on Bald Head Island and a $4.5 million sale in Holden Beach.

The year-to-date sales volume through March totaled $561 million up about 10% from $510 million at the same point in 2023.

Brunswick County

  • New Listings
    • March 2024: 780
    • March 2023: 610
    • Increase/Decrease: +27.9%
  • Units Sold
    • March 2024: 507
    • March 2023: 527
    • Increase/Decrease: -3.8%
  • Average Sales Price
    • March 2024: $498,365
    • March 2023: $456,476
    • Increase/Decrease: +9.2%
  • Median Sales Price
    • March 2024: $372,990
    • March 2023: $365,000
    • Increase/Decrease: +2.2%
  • Total Sales Volume
    • March 2024: $252,670,000
    • March 2023: $240,610,000
    • Increase/Decrease: +5%
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign2

The Importance of Real Estate Appraisals

Steve Mitchell - Cape Fear REALTORS®
Headshotrosaliecalarco 1182131047

Help Stop Government Impersonator Scams

Tommytaylor ceo unitedway

How Philanthropy Fits Into Your Financial Plan

Tommy Taylor - United Way

Trending News

Greenfield Amphitheater Could Get New Seating, More Space

Emma Dill - Jun 12, 2024

Chamber Announces 40 Under 40 Winners

Staff Reports - Jun 11, 2024

Grimmburger Food Truck To Open Brick-and-mortar Location At The Forum

Emma Dill - Jun 11, 2024

Protocase Selects Wilmington For Its First US Expansion

Emma Dill - Jun 12, 2024

Seabird Chef Calls James Beard Awards 'a Win' Even Without Top Prize

Staff Reports - Jun 11, 2024

In The Current Issue

Potential Swells For More Swimming

As the population increases, demand continues to grow for pools the public can access in Wilmington and New Hanover County....


CFCC, UNCW Expand Programs

Health care industry training programs have been getting a boost....


Airport Projects Expected To Fuel Economy

The parking improvements, coupled with the widening of 23rd Street and the ongoing noise study, are efforts to prepare for the airport’s cur...

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