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Brunswick County Association of REALTORS® releases real estate statistics for October 2018

Market bounces back strong after brief downturn following Hurricane Florence

SHALLOTTE, N.C. – Brunswick County’s residential real estate market is back on track after being impacted by Hurricane Florence, according to the latest statistics released by the Brunswick County Association of REALTORS®. After seeing sharp one-month declines in September, total sales volume and average sale prices both came back strong in October, exceeding last year’s marks. The inventory of available homes also remains tight, with the number of active listings at its lowest point this year.

“Brunswick County’s residential real estate market bounced back strong in October after a brief downturn due to the effects of Hurricane Florence,” said BCAR CEO Cynthia Walsh. “Sales in October outpaced last year, and the average number of days on market held steady. Hurricane Florence briefly slowed us down, but the market is back on track to reach a major milestone by the end of 2018.”

The number of units sold increased 11.7 percent, from 394 in October 2017 to 440 last month. The average sales price increased from $259,941 to $275,139, while total sales volume jumped 18.2 percent, from $102.42 million to $121.06 million. Of the 440 homes sold in October, 32 of them sold for $500,000 or more.

Brunswick County

New Listings

  • October 2018: 453
  • October 2017: 478
  • Increase/Decrease: -5.2%

Units Sold

  • October 2018: 440
  • October 2017: 394
  • Increase/Decrease: +11.7%

Average Sale Price

  • October 2018: $275,139
  • October 2017: $259,941
  • Increase/Decrease: +5.8%

Total Sales Volume

  • October 2018: $121,060,000
  • October 2017: $102,416,685
  • Increase/Decrease: +18.2%

Bladen County

New Listings

  • October 2018: 10
  • October 2017: 11
  • Increase/Decrease: -9.1%

Units Sold

  • October 2018: 12
  • October 2017: 5
  • Increase/Decrease: +140%

Average Sale Price

  • October 2018: $129,875
  • October 2017: $151,500
  • Increase/Decrease: -14.3%

Total Sales Volume

  • October 2018: $1,560,000
  • October 2017: $757,500
  • Increase/Decrease: +105.9%

Columbus County

New Listings

  • October 2018: 28
  • October 2017: 32
  • Increase/Decrease: -12.5%

Units Sold

  • October 2018: 24
  • October 2017: 28
  • Increase/Decrease: -14.3%

Average Sale Price

  • October 2018: $96,720
  • October 2017: $112,200
  • Increase/Decrease: -13.8%

Total Sales Volume

  • October 2018: $2,320,000
  • October 2017: $3,140,000
  • Increase/Decrease: -26.1%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina.

Brunswick County Association of REALTORS® releases real estate statistics for September 2018, showing impacts of Hurricane Florence

HurricaneFlorenceSHALLOTTE, N.C. – Brunswick County’s residential real estate market is seeing the short-term impact of Hurricane Florence, according to the latest statistics released by the Brunswick County Association of REALTORS®. New listings and total sales in September were down compared to last year. The average sale price fell slightly, while the absorption rate, which measures how long it would take to sell the existing inventory at the current rate of sales, held steady at four months.

“Hurricane Florence clearly had an impact on September’s numbers,” said BCAR CEO Cynthia Walsh. “While September’s numbers were down compared to last year, the market held its own given that all of southeastern North Carolina was out of commission and focused on hurricane recovery. As the recovery continues, I have full confidence that Brunswick County’s market will bounce back to full strength.”

The number of new listings decreased 45.8 percent in September 2018 compared to last year, falling from 509 to 276, while the number of units sold decreased 47.3 percent, from 404 in September 2017 to 213 last month. The average sales price decreased slightly from $269,477 to $257,266, while total sales volume dropped 49.7 percent, from $108.87 million to $54.8 million. Of the 213 homes sold in September, 15 of them sold for $500,000 or more.

Brunswick County

New Listings

  • September 2018: 276
  • September 2017: 509
  • Increase/Decrease: -45.8%

Units Sold

  • September 2018: 213
  • September 2017: 404
  • Increase/Decrease: -47.3%

Average Sale Price

  • September 2018: $257,266
  • September 2017: $269,477
  • Increase/Decrease: -4.5%

Total Sales Volume

  • September 2018: $54,800,000
  • September 2017: $108,870,000
  • Increase/Decrease: -49.7%

Bladen County

New Listings

  • September 2018: 12
  • September 2017: 10
  • Increase/Decrease: +20%

Units Sold

  • September 2018: 8
  • September 2017: 7
  • Increase/Decrease: +14.3%

Average Sale Price

  • September 2018: $149,455
  • September 2017: $101,743
  • Increase/Decrease: +46.9%

Total Sales Volume

  • September 2018: $1,200,000
  • September 2017: $712,000
  • Increase/Decrease: +68.5%

Columbus County

New Listings

  • September 2018: 19
  • September 2017: 23
  • Increase/Decrease: -17.4%

Units Sold

  • September 2018: 10
  • September 2017: 17
  • Increase/Decrease: -41.2%

Average Sale Price

  • September 2018: $78,340
  • September 2017: $133,556
  • Increase/Decrease: -41.3%

Total Sales Volume

  • September 2018: $783,400
  • September 2017: $2,270,000
  • Increase/Decrease: -65.5%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina.

The Association is a founding member of the North Carolina Regional Multiple Listing Service (NCRMLS), which features a comprehensive list of available properties for sale and general property information for southeastern North Carolina and northeastern South Carolina. For more information, please visit http://www.bcarnc.com.

Brunswick County Association of REALTORS® releases real estate statistics for August 2018

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continues to demonstrate strength as we approach the end of summer, according to the latest statistics released by the Brunswick County Association of REALTORS®. The number of new listings in August 2018 was up 20 percent compared to August 2017, while total sales volume dropped by 5.5 percent. The average sale price increased slightly, up almost 4 percent over last year.

“Brunswick County continued to see a healthy market through August,” said BCAR CEO Cynthia Walsh. “We are at a decade high rate of sales with a decade low average number of days on market.  The overall number of active listings available to purchase is still at a decade low as well. While the long-term impact of Hurricane Florence on our market is unclear at this point, the market has met and exceeded our expectations through September.”

Walsh pointed out that the absorption rate has dropped to around 4.5 months, roughly 26% lower than last year, and days on market is 89 days.  Every month this year the market has seen an approximate 5 percent differential between list price and sold price, meaning homes are selling for approximately 95 percent of their original list price.  The average dollar amount of listing price reductions has dropped to $10,000, down from almost $23,000 in August 2017. 

The Leland market led in August sales with 96. Oak Island was next with 69, followed by Southport with 40 and Ocean Isle Beach with 37.  August had five sales of $1 million or higher, with only one of those on Bald Head Island, and nine sales between $700,000-$999,999 – none of them on Bald Head Island. 

Brunswick County

New Listings

  • August 2018: 588
  • August 2017: 490
  • Increase/Decrease: +20%

Units Sold

  • August 2018: 476
  • August 2017: 522
  • Increase/Decrease: -8.8%

Average Sale Price

  • August 2018: $282,390
  • August 2017: $272,599
  • Increase/Decrease: +3.6%

Total Sales Volume

  • August 2018: $134,420,000
  • August 2017: $142,300,000
  • Increase/Decrease: -5.5%

Bladen County

New Listings

  • August 2018: 11
  • August 2017: 16
  • Increase/Decrease: -31.3%

Units Sold

  • August 2018: 7
  • August 2017: 8
  • Increase/Decrease: -12.5%

Average Sale Price

  • August 2018: $96,200
  • August 2017: $112,580
  • Increase/Decrease: -29.6%

Total Sales Volume

  • August 2018: $673,400
  • August 2017: $1,120,000
  • Increase/Decrease: -39.9%

Columbus County

New Listings

  • August 2018: 30
  • August 2017: 33
  • Increase/Decrease: -9.1%

Units Sold

  • August 2018: 18
  • August 2017: 21
  • Increase/Decrease: -14.3%

Average Sale Price

  • August 2018: $141,281
  • August 2017: $131,955
  • Increase/Decrease: +7.1%

Total Sales Volume

  • August 2018: $2,540,000
  • August 2017: $2,770,000
  • Increase/Decrease: -8.3%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina.

The Association is a founding member of the North Carolina Regional Multiple Listing Service (NCRMLS), which features a comprehensive list of available properties for sale and general property information for southeastern North Carolina and northeastern South Carolina. For more information, please visit http://www.bcarnc.com.

Brunswick County Association of REALTORS® releases real estate statistics for July 2018

SHALLOTTE, N.C. – Brunswick County is seeing an increasingly competitive residential real estate market as the end of Summer approaches, according to the latest statistics released by the Brunswick County Association of REALTORS®. Sales in July 2018 outpaced last year, while the number of active listings and the absorption rate are at their lowest points since 2005. The absorption rate measures how long it would take to sell the existing inventory at the current rate of sales.

“July saw a steady demand and an increasingly tight supply of available homes in Brunswick County,” said BCAR CEO Cynthia Walsh. “If you’ve been thinking about putting your home on the market, now is the time to call one of Brunswick County’s REALTORS.”

The number of new listings decreased slightly in July 2018 compared to last year, falling from 549 to 515, while the number of units sold increased 6.7 percent, from 435 in July 2017 to 464 last month. The average sales price increased from $249,711 to $274,703, while total sales volume spiked 17.3 percent, jumping from $108.62 million to $127.46 million. Of the homes sold in July, 53 percent were conventional loans and 27 percent were cash transactions.

Brunswick County

New Listings

  • July 2018: 515
  • July 2017: 549
  • Increase/Decrease: -6.2%

Units Sold

  • July 2018: 464
  • July 2017: 435
  • Increase/Decrease: +6.7%

Average Sale Price

  • July 2018: $274,703
  • July 2017: $249,711
  • Increase/Decrease: +10%

Total Sales Volume

  • July 2018: $127,460,000
  • July 2017: $108,620,000
  • Increase/Decrease: +17.3%

Bladen County

New Listings

  • July 2018: 12
  • July 2017: 14
  • Increase/Decrease: -14.3%

Units Sold

  • July 2018: 15
  • July 2017: 8
  • Increase/Decrease: +87.5%

Average Sale Price

  • July 2018: $115,920
  • July 2017: $123,609
  • Increase/Decrease: -6.2%

Total Sales Volume

  • July 2018: $1,740,000
  • July 2017: $988,870
  • Increase/Decrease: +76%

Columbus County

New Listings

  • July 2018: 48
  • July 2017: 14
  • Increase/Decrease: +242.9%

Units Sold

  • July 2018: 21
  • July 2017: 8
  • Increase/Decrease: +162.5%

Average Sale Price

  • July 2018: $97,992
  • July 2017: $123,609
  • Increase/Decrease: -20.7%

Total Sales Volume

  • July 2018: $2,060,000
  • July 2017: $988,870
  • Increase/Decrease: +108.3%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina.

The Association is a founding member of the North Carolina Regional Multiple Listing Service (NCRMLS), which features a comprehensive list of available properties for sale and general property information for southeastern North Carolina and northeastern South Carolina. For more information, please visit http://www.bcarnc.com.

###

Brunswick County Association of REALTORS® releases real estate statistics for second quarter of 2018

Total sales volume tops $400 million in second quarter, highest quarterly total in over a decade

SHALLOTTE, N.C. -- July 24, 2018 -- Brunswick County’s residential real estate market demonstrated continued strength through the second quarter of 2018, according to the latest statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market continues to be a healthy one as we move into the second half of 2018,” said BCAR CEO Cynthia Walsh. “Total sales volume in the second quarter topped $400 million, an 18.5 percent jump over last year. This is our highest quarterly total in over a decade!”

New listings and units sold are also up compared to last year, while the average number of days a home stays on the market is trending downward. The number of sales between $350,000 and $600,000 increased nearly 60 percent in June 2018 compared to last year, while the number of sales between $500,000 and $599,000 jumped 400% in June 2018 compared to the previous year.

The number of new listings increased slightly in June, rising from 540 in June of 2017 to 583 last month, while the number of units sold increased 2.9 percent, from 519 in June 2017 to 534 last month. The average sales price increased from $253,842 to $276,883, while total sales volume spiked 12.2 percent, jumping from $131.74 million to $147.86 million.

“On average, we are getting 500 new listings and selling 500 homes each month,” Walsh added. “While our inventory of available homes is getting gradually smaller, but we are not anywhere near dangerously low levels. All signs point toward steady growth and a strong market through this summer.”

Brunswick County

New Listings

  • June 2018: 583
  • June 2017: 540
  • Increase/Decrease: +8%
  • Second Quarter 2018: 1760
  • Second Quarter 2017: 1662
  • Increase/Decrease: +5.9%

Units Sold

  • June 2018: 534
  • June 2017: 519
  • Increase/Decrease: +2.9%
  • Second Quarter 2018: 1533
  • Second Quarter 2017: 1290
  • Increase/Decrease: +18.3%

Average Sale Price

  • June 2018: $276,883
  • June 2017: $253,842
  • Increase/Decrease: +9.1%
  • Second Quarter 2018: $275,265
  • Second Quarter 2017: $268,109
  • Increase/Decrease: +2.7%

Total Sales Volume

  • June 2018: $147,860,000
  • June 2017: $131,740,000
  • Increase/Decrease: +12.2%
  • Second Quarter 2018: $408,852,000
  • Second Quarter 2017: $344,900,000
  • Increase/Decrease: +18.5%

 

Bladen County

New Listings

  • June 2018: 18
  • June 2017: 16
  • Increase/Decrease: +12.5%

Units Sold

  • June 2018: 10
  • June 2017: 5
  • Increase/Decrease: +100%

Average Sale Price

  • June 2018: $164,490
  • June 2017: $112,580
  • Increase/Decrease: +46.1%

Total Sales Volume

  • June 2018: $1,650,000
  • June 2017: $562,900
  • Increase/Decrease: +191.3%

 

Columbus County

New Listings

  • June 2018: 38
  • June 2017: 49
  • Increase/Decrease: -22.4%

Units Sold

  • June 2018: 31
  • June 2017: 14
  • Increase/Decrease: +121.4%

Average Sale Price

  • June 2018: $126,078
  • June 2017: $100,082
  • Increase/Decrease: +26%

Total Sales Volume

  • June 2018: $3,910,000
  • June 2017: $1,400,000
  • Increase/Decrease: +179.3%.