As we approach the end of 2017, Brunswick County’s residential real estate is demonstrating its greatest strength in over a decade.
“As of October 31, Brunswick County has seen over $1 billion in residential home sales in 2017,” said Cynthia Walsh, CEO of the Brunswick County Association of REALTORS®. “We haven’t seen numbers like this since 2005, when Brunswick County ended the year with $1.2 billion in total sales volume. We are trending to meet or exceed that total in 2017.”
The number of units sold in October increased by almost 23% over October of 2016, and total sales last month jumped almost 30 percent compared to the same period last year, according to statistics released by the Brunswick County Association of REALTORS®.
As sales continue to outpace new listings, the absorption rate continues its downward trend to under six months, with days on the market around four months. This marks the first time Brunswick County has seen days on the market at 120 days or less since 2007. The absorption rate measures how long it would take to sell the existing inventory at the current rate of sales.
ListingsOctober 2017: 478October 2016: 372Increase/decrease: +28.5%
Units SoldOctober 2017: 394October 2016: 321Increase/decrease: +22.7%
Average Sale PriceOctober 2017: $259,941October 2016: $247,136Increase/decrease: +5.2%
Total Sales VolumeOctober 2017: $102,416,685October 2016: $79,330,000Increase/decrease: +29.1%
Bladen CountyUnits Sold: 5Average Sale Price: $151,500Total Sales Volume: $757,500
Columbus CountyUnits Sold: 28Average Sale Price: $112,200Total Sales Volume: $3,140,000
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.