SHALLOTTE, N.C -- Brunswick County’s residential real estate market continued its steady growth during August 2017 with the number of units sold up 20 percent over July and 33 percent over August 2016, according to statistics released by the Brunswick County Association of REALTORS®.
“August may be the last month of summer vacation, but the real estate market in Brunswick County certainly didn’t take a summer a break,” BCAR CEO Cynthia Walsh said.
The number of residential listings in Brunswick County rose from 450 in August 2016 to 490 this year, BCAR reported. The number of units sold jumped 33.2 percent during that time, going from 392 to 522. The average sale price increased 5.6 percent, from $258,140 to $272,599, while total sales rose 40.6 percent, from $101.19 million in August 2016 to $142.3 million this August.
According to Walsh, 12 homes sold for $750,000 or more during August.
The average length of time a home spends on the market has decreased steadily this year and has hovered around 100 days for the past 3 months, its lowest point since January 2017. Additionally, there are strong pending listings, with 463 sales expected to close in the near future -- 22% higher than last year at this time.
“We do expect to see the typical Fall cool-down to some degree, but with this many pending listings it isn’t going to get too chilly any time soon,” Walsh said.
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