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Brunswick County Association of REALTORS® releases real estate statistics for February 2017; Listings, sales and average sales price up, days on market down

SHALLOTTE, N.C. – Brunswick County’s residential real estate market continues to demonstrate strength, according to statistics released by the Brunswick County Association of REALTORS®.

“Brunswick County’s residential real estate market continues to show growth and strength in all the right places,” said BCAR CEO Cynthia Walsh. “New listings and units sold both increased, and the average sales price for February reached a two-year high.  The average number of days on market continues to decrease and is now at 117 days, meaning sellers should be prepared to sell their home in four months or less. Identifying the right price point is a key factor in determining how quickly a home sells. Motivated sellers would be wise to utilize a REALTOR®, not just someone who has a real estate license, to guide them through the process and help them choose the best price point for their home.”

Three bedroom homes selling for $150,000-$199,999 were the largest sellers in February, with 32 total sales, and three bedroom homes selling for $200,000-$249,999 were second with 22 units sold.  The absorption rate notched up slightly from January, climbing to 7.25 months from 6.9 months. According to Walsh, this is likely due to a surge of new listings in January and February.  The absorption rate means that if sales continue at their current pace, and no new listings are added to the market, it would take 7.25 months to sell all inventory.

“Spring is just around the corner, it will be exciting to see how this market continues to bloom!” Walsh concluded.

Brunswick County

Listings

  • February 2017: 582
  • February 2016: 544
  • Increase/decrease: +7.0%

Units Sold

  • February 2017: 236
  • February 2016: 208
  • Increase/decrease: +13.5%

Average Sale Price

  • February 2017: $258,791
  • February 2016: $230,221
  • Increase/decrease: +12.4%

Total Sales Volume

  • February 2017: $61,074,000
  • February 2016: $47,890,000
  • Increase/decrease: +27.5%

Bladen County

Listings

  • February 2017: 18
  • February 2016: 11
  • Increase/decrease: +63.6%

Units Sold

  • February 2017: 5
  • February 2016: 6
  • Increase/decrease: -16.7%

Average Sale Price

  • February 2017: $106,956
  • February 2016: $83,000
  • Increase/decrease: +28.9%

Total Sales Volume

  • February 2017: $535,000
  • February 2016: $498,000
  • Increase/decrease: +7.4%

Columbus County

Listings

  • February 2017: 23
  • February 2016: 25
  • Increase/decrease: -8.0%

Units Sold

  • February 2017:  8
  • February 2016: 16
  • Increase/decrease: -50.0%

Average Sale Price

  • February 2017: $56,825
  • February 2016: $128,291
  • Increase/decrease: -55.7%

Total Sales Volume

  • February 2017: $455,000
  • February 2016: $2,050,000
  • Increase/decrease: -77.8%.

 


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