Pattern Broken?

New listings increase for the first time during 2022, demand remains strong in Brunswick County’s residential real estate market

Statistics graphic
Statistics graphic

For the first time this year, Brunswick County’s residential real estate market saw an increase in new listings during May. Demand remains strong, with homes spending an average of 25 days on the market and selling for more than list price.

“May brought our first increase in new listings so far this year,” said BCAR CEO Cynthia Walsh. “While the pattern of fewer listings has been broken – for now — overall, inventory for the year to date is still running slightly behind 2021. Other numbers remained similar to recent months, and our market is still extremely competitive, with no signs of that changing in the near future.”

Brunswick County saw $269,840,000 in total sales volume in May 2022, a 9.3% increase from last May’s $246,960,000. New listings increased 13%, from 656 to 741. The number of units sold in May dropped 7.6% compared to last year, from 620 to 573, and homes spent an average of 25 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, is 1 1/3 months. The average sales price increased 18.2%, from $398,323 to $470,924. Brunswick County’s luxury market remained strong in May with 28 sales of $1 million or more, including three sales in excess of $3 million, three additional sales in excess of $2 million, and another 22 sales in excess of $1 million.

Year-to-date sales volume through May is $1,044,060,000, down 1.8% from $1,063,489,429 last year. Average sales prices for the year are 15.3% higher than 2021, increasing from $382,161 to $440,574. The number of units sold through May is down 15.9%, from 2,772 to 2,330, and the number of new listings is down 13%, from 3,179 to 2,767.

Brunswick County

New Listings

  • May 2022: 741
  • May 2021: 656
  • Increase/Decrease: +13%

Units Sold

  • May 2022: 573
  • May 2021: 620
  • Increase/Decrease: -7.6%

Average Sales Price

  • May 2022: $470,924
  • May 2021: $398,323
  • Increase/Decrease: +18.2%

Median Sales Price

  • May 2022: $365,000
  • May 2021: $305,361
  • Increase/Decrease: +19.5%

Total Sales Volume

  • May 2022: $269,840,000
  • May 2021: $246,960,000
  • Increase/Decrease: +9.3%

Bladen County

New Listings

  • May 2022: 17
  • May 2021: 8
  • Increase/Decrease: +112.5%

Units Sold

  • May 2022: 5
  • May 2021: 17
  • Increase/Decrease: -70.6%

Average Sales Price

  • May 2022: $225,000
  • May 2021: $115,812
  • Increase/Decrease: +94.3%

Total Sales Volume

  • May 2022: $1,130,000
  • May 2021: $1,970,000
  • Increase/Decrease: -42.6%

Columbus County

New Listings

  • May 2022: 41
  • May 2021: 28
  • Increase/Decrease: +46.4%

Units Sold

  • May 2022: 28
  • May 2021: 31
  • Increase/Decrease: -9.7%

Average Sales Price

  • May 2022: $225,564
  • May 2021: $181,744
  • Increase/Decrease: +24.1%

Total Sales Volume

  • May 2022: $6,320,000
  • May 2021: $5,630,000
  • Increase/Decrease: +12.3%

Robeson County

New Listings

  • May 2022: 11
  • May 2021: 9
  • Increase/Decrease: +22.2%

Units Sold

  • May 2022: 3
  • May 2021: 6
  • Increase/Decrease: -50%

Average Sales Price

  • May 2022: $171,567
  • May 2021: $183,983
  • Increase/Decrease: -6.7%

Total Sales Volume

  • May 2022: $514,700
  • May 2021: $1,100,000
  • Increase/Decrease: -53.2%

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.