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

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continues to demonstrate strength as we approach the end of summer, according to the latest statistics released by the Brunswick County Association of REALTORS®. The number of new listings in August 2018 was up 20 percent compared to August 2017, while total sales volume dropped by 5.5 percent. The average sale price increased slightly, up almost 4 percent over last year.

“Brunswick County continued to see a healthy market through August,” said BCAR CEO Cynthia Walsh. “We are at a decade high rate of sales with a decade low average number of days on market.  The overall number of active listings available to purchase is still at a decade low as well. While the long-term impact of Hurricane Florence on our market is unclear at this point, the market has met and exceeded our expectations through September.”

Walsh pointed out that the absorption rate has dropped to around 4.5 months, roughly 26% lower than last year, and days on market is 89 days.  Every month this year the market has seen an approximate 5 percent differential between list price and sold price, meaning homes are selling for approximately 95 percent of their original list price.  The average dollar amount of listing price reductions has dropped to $10,000, down from almost $23,000 in August 2017. 

The Leland market led in August sales with 96. Oak Island was next with 69, followed by Southport with 40 and Ocean Isle Beach with 37.  August had five sales of $1 million or higher, with only one of those on Bald Head Island, and nine sales between $700,000-$999,999 – none of them on Bald Head Island. 

Brunswick County

New Listings

  • August 2018: 588
  • August 2017: 490
  • Increase/Decrease: +20%

Units Sold

  • August 2018: 476
  • August 2017: 522
  • Increase/Decrease: -8.8%

Average Sale Price

  • August 2018: $282,390
  • August 2017: $272,599
  • Increase/Decrease: +3.6%

Total Sales Volume

  • August 2018: $134,420,000
  • August 2017: $142,300,000
  • Increase/Decrease: -5.5%

Bladen County

New Listings

  • August 2018: 11
  • August 2017: 16
  • Increase/Decrease: -31.3%

Units Sold

  • August 2018: 7
  • August 2017: 8
  • Increase/Decrease: -12.5%

Average Sale Price

  • August 2018: $96,200
  • August 2017: $112,580
  • Increase/Decrease: -29.6%

Total Sales Volume

  • August 2018: $673,400
  • August 2017: $1,120,000
  • Increase/Decrease: -39.9%

Columbus County

New Listings

  • August 2018: 30
  • August 2017: 33
  • Increase/Decrease: -9.1%

Units Sold

  • August 2018: 18
  • August 2017: 21
  • Increase/Decrease: -14.3%

Average Sale Price

  • August 2018: $141,281
  • August 2017: $131,955
  • Increase/Decrease: +7.1%

Total Sales Volume

  • August 2018: $2,540,000
  • August 2017: $2,770,000
  • Increase/Decrease: -8.3%

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.