SHALLOTTE, N.C – Brunswick County’s residential real estate market continued to show steady, strong growth through the first quarter of 2018, with total sales volume outpacing the first quarter of 2017 by 26.2 percent, according to the latest statistics released by the Brunswick County Association of REALTORS®.
“Brunswick County’s real estate market continues to be red-hot through the first quarter of 2018,” said BCAR CEO Cynthia Walsh. “We saw more homes sold in March than in ANY month from 2011 through 2016, and total sales volume for the first quarter outpaced last year by 26 percent.”
Walsh also pointed out that sales of luxury homes – those priced at $500,000 and higher – are outpacing 2017 by almost 40 percent. Walsh added that the absorption rate, which measures how long it would take to sell the current inventory of homes, is 110 days.
“Our market continues to be highly competitive, and all signs point to a strong summer selling season in Brunswick County,” Walsh concluded.
March 2018 vs. March 2017
The number of new listings in Brunswick County inched up from 683 in March 2017 to 704 last month, a 3.1% increase. The total number of units sold rose from 397 to 450, a 13.4% jump. The average sale price increased 12.9% from $251,543 to $283,911, and total sales volume jumped from $99,860,000 to $127,760,000, a 27.9% increase.
First Quarter 2018 vs. First Quarter 2017
The number of new listings in Brunswick County through the first quarter of 2018 dropped 3.7% compared to last year, from 1822 to 1754. The number of units sold increased from 875 to 1013, a 15.8% increase. The average sale price rose from $250,024 to $270,688, an 8.3% increase, and total sales volume through the first quarter jumped from $218,950,876 to $276,230,000, a 26.2% spike.
Average Sale Price
Total Sales Volume
Bladen County – March 2018
Columbus County -- March 2018
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.