Don’t Let the Numbers Fool You

While total sales volume drops 7.2%, Brunswick County’s real estate market remains “insanely competitive”

Main points:

  • The strong luxury market contributes to higher average sale prices.
  • In March, 65% of homes sold for 99% or more of list price.
  • There is less than one month’s worth of inventory on the market.
  • While monthly sales were down due to lack of inventory, we are keeping pace with 2021’s total sales numbers.
  • Brunswick County has nearly 40% fewer active listings than last year, while sales are only down around 20%. This is indicative of strong demand.

SHALLOTTE, N.C. — Brunswick County’s residential real estate market painted an overall familiar picture in March, with low inventory, strong demand and an active luxury market pushing average sale prices higher. While total sales volume decreased, 65% of homes sold at or above listing price.

“Total sales volume in Brunswick County actually decreased in March, but don’t let that fool you – our market remains extremely competitive,” said BCAR CEO Cynthia Walsh. “March was consistent with other recent months: a strong seller’s market driven by strong demand coupled with limited inventory. Homes are selling quickly, and prices continue to rise. Serious buyers should engage a professional REALTOR® to help them navigate this insanely competitive environment.”

Brunswick County saw $219,840,000 in total sales volume in March 2022, a 7.2% decrease from last March’s $236,960,000. New listings dropped 11.1%, from 692 to 615, and the number of units sold dropped 21.7% compared to last year, from 649 to 508. There were 556 active listings in March 2022, down 37.4% from last year. The absorption rate, which is the amount of time it would take to sell all available inventory, is officially less than one month. The average sales price increased 18.5%, from $365,121 to $432,764. Brunswick County once again saw a strong luxury home market in March, with 24 sales in excess of $1 million, including transactions of $2.4 million and $3.3 million on Bald Head Island.

Year-to-date total sales volume is tracking similar to last year’s record pace. Year-to-date sales volume through March is $556,360,000, down 1.6% from $565,299,429 last year. Average sales prices are 10% higher than last year, increasing from $398,772 to $438,770. The number of units sold through March is down 19.2%, from 1577 to 1275, and the number of new listings is down 20.3%, from 1807 to 1440.

Brunswick County

New Listings

  • March 2022: 615
  • March 2021: 692
  • Increase/Decrease: -11.1%

Units Sold

  • March 2022: 508
  • March 2021: 649
  • Increase/Decrease: -21.7%

Average Sales Price

  • March 2022: $432,764
  • March 2021: $365,121
  • Increase/Decrease: +18.5%

Median Sales Price

  • March 2022: $351,068
  • March 2021: $295,000
  • Increase/Decrease: +19%

Total Sales Volume

  • March 2022: $219,840,000
  • March 2021: $236,960,000
  • Increase/Decrease: -7.2%

Bladen County

New Listings

  • March 2022: 7
  • March 2021: 18
  • Increase/Decrease: -61.1%

Units Sold

  • March 2022: 14
  • March 2021: 9
  • Increase/Decrease: +55.6%

Average Sales Price

  • March 2022: $199,886
  • March 2021: $206,589
  • Increase/Decrease: -3.2%

Total Sales Volume

  • March 2022: $2,800,000
  • March 2021: $1,860,000
  • Increase/Decrease: +50.5%

Columbus County

New Listings

  • March 2022: 31
  • March 2021: 34
  • Increase/Decrease: -8.8%

Units Sold

  • March 2022: 25
  • March 2021: 24
  • Increase/Decrease: +4.2%

Average Sales Price

  • March 2022: $187,320
  • March 2021: $139,729
  • Increase/Decrease: +34.1%

Total Sales Volume

  • March 2022: $4,680,000
  • March 2021: $3,350,000
  • Increase/Decrease: +39.7%

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. For more information, please visit http://www.bcarnc.com.