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

Brunswick County Association of Realtors

 

Market Stays Hot Through Dog Days of Summer

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continues to show steady growth in sales, prices and total sales volume over last year, according to statistics released today by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market continues to demonstrate sustained, healthy growth across the board,” BCAR CEO Cynthia Walsh said. “July saw increases in new listings, units sold, average sales price and total sales volume.”

The number of new listings in Brunswick County increased from 522 in July of 2016 to 549 this year. The number of units sold jumped 25.4 percent, from 347 to 435, while the average sales price increased from $241,558 to $249,711. Total sales volume increased nearly 30 percent, jumping from $83.8 million to $108 million.

Pending sales are up 31 percent year-to-date and 41 percent over last July, BCAR reported.

“While the market remained red-hot through the dog days of summer, we are beginning to see the typical cool-down as we move into late summer and early Fall,” Walsh said.

According to Walsh, July was the first month of the summer selling season in which the county did not see double digit sales of homes at $750,000 or more. Additionally, the number of units sold in July of this year was 16 percent lower than June, but 25 percent higher than July 2016.

The inventory of available homes continues to be limited. The average number of days a home spends on the market is now at 108, about the same as June. In addition, the absorption rate, which measures how long it would take to sell the existing inventory at the current rate of sales, is now at seven months, 21% lower than the same time last year. According to Walsh, the absorption rate has declined every month since January.


Brunswick County

New Listings
• July 2017: 549
• July 2016: 522
• Increase/decrease: +5.2%

Units Sold
• July 2017: 435
• July 2016: 347
• Increase/decrease: +25.4%

Average Sale Price
• July 2017: $249,711
• June 2016: $241,558
• Increase/decrease: +3.4 %

Total Sales Volume
• July 2017: $108,620,000
• July 2016: $83,820,000
• Increase/decrease: +29.6%

Bladen County

New Listings
• July 2017: 14
• July 2016: 13
• Increase/decrease: +7.7%

Units Sold
• July 2017: 8
• July 2016: 6
• Increase/decrease: +33.3%

Average Sale Price
• July 2017: $123,609
• July 2016: $132,800
• Increase/decrease: -6.9%

Total Sales Volume
• July 2017: $988,870
• July 2016: $796,800
• Increase/decrease: +24.1%

Columbus County

New Listings
• July 2017: 35
• July 2016: 28
• Increase/decrease: _+25.0%

Units Sold
• July 2017: 24
• July 2016: 18
• Increase/decrease: +33.3%

Average Sale Price
• July 2017: $156,310
• July 2016: $119,906
• Increase/decrease: +30.4%

Total Sales Volume
• July 2017: $3,750,000
• July 2016: $2,160,000
• Increase/decrease: +73.6%.

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Brunswick County Association of REALTORS® releases real estate statistics for June and first half of 2017

SHALLOTTE, N.C. – Brunswick County’s residential real estate market showed strong, steady growth in the first half of 2017 as well as during June, with sales volume continuing to increase steadily, according to statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market continued its trend of strong, healthy growth through June,” BCAR CEO Cynthia Walsh said. “All signs indicate that we can expect the steady growth we’ve experienced in the first half of 2017 to continue.”

The residential real estate market for the first half of 2017 saw a 10-percent rise in new listings, 9 percent more sales, a 37-percent higher average sales price and 37 percent more total sales volume compared to the first half of 2016.
 
The average number of days a home spends on the market—from listing to accepted offer—is still just under four months, BCAR reports. The absorption rate, which measures how long it would take to sell the existing inventory at the current rate of sales, is now six months.The average home sold in Brunswick County is a three-bedroom, two-and-a-half-bathroom home of approximately 1,800 square feet and selling for about $253,999. In the first half of 2017, most residential sales have been in the $150,000-$299,999 range.

“The total number of active and available homes for sale is getting smaller,” Walsh said. “We are not to the point where bidding wars become common, but we are not showing any signs of a market cool down. We expect the market to become increasingly competitive, underscoring the need for both buyers and sellers to engage a professional REALTOR®.”

Brunswick County

New Listings

  • June 2017: 540
  • June 2016: 489
  • Increase/decrease: +10.4%

Units Sold

  • June 2017: 519
  • June 2016: 386
  • Increase/decrease: +34.5%

Average Sale Price

  • June 2017: $253,842
  • June 2016: $236,190
  • Increase/decrease: +7.5%

Total Sales Volume

  • June 2017: $131,740,000
  • June 2016: $91,171,000
  • Increase/decrease: +44.5%

Bladen County

New Listings

  • June 2017: 16
  • June 2016: 13

Units Sold

  • June 2017: 5
  • June 2016: 4

Average Sale Price

  • June 2017: $112,580
  • June 2016: $121,750

Total Sales Volume

  • June 2017: $562,900
  • June 2016: $331,000

Columbus County

New Listings

  • June 2017: 49
  • June 2016: 36

Units Sold

  • June 2017: 14
  • June 2016: 16

Average Sale Price

  • June 2017: $100,082
  • June 2016: $100,130

Total Sales Volume

  • June 2017: $1,400,000
  • June 2016: $1,600,000.

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Brunswick County Association of REALTORS® releases real estate statistics for May 2017

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continued to show exceptional growth during May 2017, including a substantial increase in average sales prices and the year’s highest sales total to date, according to statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s real estate market is still red hot, to the point of breaking records,” BCAR CEO Cynthia Walsh said. “We have not seen sales like this in one month since before 2010.”

Walsh noted that 16 homes sold for $750,000 or more during the month.

The number of residential listings in Brunswick County rose from 558 in May of 2016 to 592 this year, BCAR reported. The number of units sold jumped 24.6 percent during that time, going from 341 to 425. The average sale price increased 13.1 percent, from $253,845 to $287,212, while total sales rose 41 percent, from $86.56 million in May 2016 to $122.07 million this May.

The average length of time a home spends on the market continues to hold at around 4.5 months, Walsh explained, and homeowners are continuing to sell at about 97 percent of their listing price.

“Residential real estate in Brunswick County is on fire as we move into summer,” Walsh added. “Both buyers and sellers would be well-served to engage a qualified, licensed REALTOR® to help them navigate this market.”

Brunswick County

Listings

  • May 2017: 592
  • May 2016: 558
  • Increase/decrease: +6.1%

Units Sold

  • May 2017: 425
  • May 2016: 341
  • Increase/decrease: +24.6%

Average Sale Price

  • May 2017: $287,212
  • May 2016: $253,845
  • Increase/decrease: +13.1%

Total Sales Volume

  • May 2017: $122,070,000
  • May 2016: $86,560,000
  • Increase/decrease: +41%

Bladen County

  • Units Sold: 3
  • Average Sale Price: $107,000
  • Total Sales Volume: $321,000

Columbus County

  • Units Sold: 7
  • Average Sale Price: $101,786
  • Total Sales Volume: $712,500.

Brunswick County Association of REALTORS® releases real estate statistics for April 2017

 

Brunswick County’s residential real estate demonstrated continued strength through April, according to statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s real estate market continues to trend in all the right directions,” said BCAR CEO Cynthia Walsh. “The number of units sold, average sales price and total sales volume all rose, while new listings are down. The market is hot in Brunswick County as a whole, and the hottest areas are Leland, Southport, Oak Island and Carolina Shores.”

Brunswick County’s absorption rate, which measures how long it would take to sell all inventory if sales continue at the current pace, continues to hover in the seven-month range and is down 20% from the same time last year. According to Walsh, this means that the market is seeing more sales and fewer listings.

“Brunswick County’s real estate market is hot, and we only expect it to get hotter as we move into summer,” Walsh added. “Buyers and sellers would be well-served to engage a professional REALTOR® to help them navigate this competitive marketplace.”

 

Brunswick County

Listings

  • April 2017: 530
  • April 2016: 567
  • Increase/decrease: +-6.5%

Units Sold

  • April 2017: 346
  • April 2016: 306
  • Increase/decrease: +13.1%


Average Sale Price

  • April 2017: $263,274
  • April 2016: $247,721
  • Increase/decrease: +6.3%

Total Sales Volume

  • April 2017: $91,090,000
  • April 2016: $75,800,000
  • Increase/decrease: +20.2%

 

Bladen County

Listings

  • April 2017: 15
  • April 2016: 16
  • Increase/decrease: +-6.3%

Units Sold

  • April 2017: 9
  • April 2016: 4
  • Increase/decrease: +125.0%

Average Sale Price

  • April 2017: $153,167
  • April 2016: $63,750
  • Increase/decrease: +140.3%

Total Sales Volume

  • April 2017: $1,380,000
  • April 2016: $255,000
  • Increase/decrease: +441.2%

 

Columbus County

Listings

  • April 2017: 27
  • April 2016: 32
  • Increase/decrease: -15.6%

Units Sold

  • April 2017: 15
  • April 2016: 11
  • Increase/decrease: +36.4%

Average Sale Price

  • April 2017: $76,831
  • April 2016: $132,118
  • Increase/decrease: -41.8%

Total Sales Volume

  • April 2017: $1,150,000
  • April 2016: $1,450,000
  • Increase/decrease: -20.7%

 

Brunswick County Association of REALTORS® releases real estate statistics for March 2017

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continues to surge as we enter the second quarter of 2017, according to statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market is officially hot as we move into summer,” said BCAR CEO Cynthia Walsh. “The number of listings, units sold and average sale price all increased in March compared to a year ago, while the average number of days on market continues to hold steady and the absorption rate continues to drop. Additionally, total sales volume rose by an astounding 51% in March compared to last year. This was our best first quarter in over five years, and all indicators point to an increasingly hot market as we move into summer.”

Brunswick County saw increased sales in all prices ranges in March 2017:

  • Six homes sold in excess of $1 million
  • 29% increase in sales of homes between $500,000 and $950,000
  • 266.7% increase in sales of homes between $450,000 and $499,999
  • 175% increase in sales of homes between $350,000 and $399,000
  • 70% increase in sales of homes between $200,000 and $250,000.

According to Walsh, Brunswick County is selling 29% more homes at an 8% higher average price through the first quarter of 2017 compared to the same period last year, resulting in 40% more in total sales than 2016.

 

First Quarter Totals – Brunswick County Only

 

Average Number of Listings Per Month

  • 1Q 2017: 607
  • 1Q 2016: 510
  • Change: +19.0%

 Total Listings

  • 1Q 2017: 1822
  • 1Q 2016: 1531

 Average Units Sold

  • 1Q 2017: 292
  • 1Q 2016: 226
  • Change: +29.2%

 Total Units Sold

  • 1Q 2017: 875
  • 1Q 2016: 677

 Average Sale Price

  • 1Q 2017: $250,024
  • 1Q 2016: $229,721
  • Change: +8.8%

 Total Sales Volume

  • 1Q 2017:  $218,950,876
  • 1Q 2016: $155,970,000
  • Change: +40.4%

 

March 2017 Totals


Brunswick County

 

Listings

  • March 2017: 683
  • March 2016: 556
  • Increase/decrease: +22.8%

Units Sold

  • March 2017: 397
  • March 2016: 281
  • Increase/decrease: +41.3%

Average Sale Price

  • March 2017: $251,543
  • March 2016: $234,463
  • Increase/decrease: +7.3%

Total Sales Volume

  • March 2017: $99,860,000
  • March 2016: $65,880,000
  • Increase/decrease: +51.6%

 

Bladen County

Listings

  • March 2017: 16
  • March 2016: 9
  • Increase/decrease: +77.8%

 Units Sold

  • March 2017: 9
  • March 2016: 7
  • Increase/decrease: +28.6%

 Average Sale Price

  • March 2017: $58,044
  • March 2016: $61,371
  • Increase/decrease: -5.4%

 Total Sales Volume

  • March 2017: $522,400
  • March 2016: $429,600
  • Increase/decrease: +21.6%

 

Columbus County

Listings

  • March 2017: 34
  • March 2016: 38
  • Increase/decrease: -10.5%

Units Sold

  • March 2017: 17
  • March 2016: 13
  • Increase/decrease: +30.8%

 Average Sale Price

  • March 2017: $94,315
  • March 2016: $84,019
  • Increase/decrease: +12.3%

 Total Sales Volume

  • March 2017: $1,600,000
  • March 2016: $1,092,250
  • Increase/decrease: +46.5%.