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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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