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.”
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