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Brunswick County Association of REALTORS® releases real estate statistics for May 2018

SHALLOTTE, N.C. – Brunswick County’s residential real estate market remains strong as we move into summer, according to the latest statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market is already hot as we move into the summer selling season,” said BCAR CEO Cynthia Walsh. “New listings, units sold and total sales volume are up compared to last year, while the average number of days a home stays on the market is holding steady. While sales have been brisk, we have added enough listings month over month in 2018 to maintain a healthy, stable market. All signs point toward steady growth and a strong market through this summer.”

According to the latest BCAR statistics, the number of new listings increased slightly from 592 in May of 2017 to 602 this year, while the number of units sold increased 18.6%, from 425 in May 2017 to 504 last month. The average sales price decreased slightly from $287,212 to $278,913, while total sales volume spiked 15.2%, jumping from $122.07 million to $140.57 million.

The absorption rate, which measures how long it would take to sell the existing inventory at the current rate of sales, is holding steady at around five months. Walsh pointed out that the absorption rate has been virtually static since December 2017, when the number was 5.5 months. Additionally, the average number of days on market remained steady in May at approximately 95 days. In the past 12 months, days on market has consistently hovered between 90 and 120 days.

Brunswick County

New Listings

  • May 2018: 602
  • May 2017: 592
  • Increase/Decrease: +1.7%

Units Sold

  • May 2018: 504
  • May 2017: 425
  • Increase/Decrease: +18.6%

Average Sale Price

  • May 2018: $278,913
  • May 2017: $287,212
  • Increase/Decrease: -2.9%

Total Sales Volume

  • May 2018: $140,572,000
  • May 2017: $122,070,000
  • Increase/Decrease: +15.2%

 

Bladen County

New Listings

  • May 2018: 15
  • May 2017: 13
  • Increase/Decrease: +15.4%

Units Sold

  • May 2018: 5
  • May 2017: 3
  • Increase/Decrease: +66.7%

Average Sale Price

  • May 2018: $92,780
  • May 2017: $107,000
  • Increase/Decrease: -13.3%

Total Sales Volume

  • May 2018: $463,900
  • May 2017: $321,000
  • Increase/Decrease: +44.5%

 

Columbus County

New Listings

  • May 2018: 28
  • May 2017: 45
  • Increase/Decrease: -37.8%

Units Sold

  • May 2018: 32
  • May 2017: 7
  • Increase/Decrease: +357.1%

Average Sale Price

  • May 2018: $135,320
  • May 2017: $101,786
  • Increase/Decrease: +32.9%

Total Sales Volume

  • May 2018: $4,330,250
  • May 2017: $712,500
  • Increase/Decrease: +507.8%.