Brunswick County real estate market holds steady in March despite Coronavirus

April 14, 2020

BCAR Report April 2020 from BCAR on Vimeo.

Brunswick County’s real estate market remained strong through March in spite of the Coronavirus pandemic, with units sold fairly consistent with March 2019.

“Given everything we’ve been through in March, these stats are impressive,” said Cynthia Walsh, BCAR CEO, “Buyers have continued to search properties online, and many are making offers based solely on viewing properties virtually. Our March numbers demonstrate how popular and sought-after Brunswick County is even in the midst of COVID-19.”

Total sales volume increased 4.1% in March compared to last year, rising from $122,770,000 to $127,800,000. Average sale prices increased 5.5%, from $280,933 to $296,515, while units sold decreased 1.4%, from 437 to 431. The number of new listings decreased from 673 to 622, a 7.6% drop. The number of days on the market is still hovering between 80-90 days and the absorption rate, which is the amount of time it would take to sell the current inventory of homes, is 4.5 months.

Total sales in the first quarter of 2020 increased 30.6% compared to 2019, rising from $225,090,000 to $333,210,000. Average sale prices are up 9.1% over the first quarter of last year, jumping from $269,558 to $294,033, and units sold increased 20%, from 938 to 1,126.

Brunswick County

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