Cruise Control: Demand for homes keeps pace with increasing inventory
Brunswick County’s real estate market saw continued strong demand paired with an increased inventory of available homes in June. While prices and total sales volume both dropped compared to June 2023, the number of homes sold was nearly identical to last year. Additionally, year-to-date sales, prices and sales volume are outpacing last year’s numbers, and Brunswick County remains in seller’s market territory.
“Our market is essentially on cruise control,” said Cynthia Walsh, CEO of the Brunswick County Association of REALTORS® (BCAR). “Home sales typically drop off in June, but last month nearly matched May of 2024 and June of 2023. While we’ve averaged 700 new listings per month through the first half of the year, we’re also averaging 468 sales per month to gobble up many of those new listings. This is an indicator that demand for homes in our market remains strong.”
New listings increased 22.4% in June compared to last year, from 585 to 716, while the number of units sold decreased 0.2%, from 552 to 551. Average sale prices decreased 10.2%, from $497,674 to $446,724, and median sale prices decreased 9.1%, from $392,655 to $357,000. Total sales volume decreased 10.4%, from $274,720,000 to $246,140,000. The months supply of inventory is holding in the three-to-four-month range, and average days on market remains at about two months. Below five months is typically considered seller’s market territory. The luxury market remained strong in June, with 21 sales over $1 million, including a $3 million sale on Ocean Isle Beach.
Year-to-date sales volume through June totaled $1,347,620,000, up 9.7% from $1,228,750,000 at the same point in 2023. The average year-to-date sale price increased 9.5% compared to the same point in 2023, from $442,734 to $484,907, while the median sale price increased 3.4%, from $365,180 to $377,425. The number of units sold through June is up 3% compared to last year, from 2,724 to 2,806 and the number of new listings increased 20.1%, from 3,504 to 4,207.
Brunswick County
New Listings
- June 2024: 716
- June 2023: 585
- Increase/Decrease: +22.4%
Units Sold
- June 2024: 551
- June 2023: 552
- Increase/Decrease: -0.2%
Average Sales Price
- June 2024: $446,724
- June 2023: $497,674
- Increase/Decrease: -10.2%
Median Sales Price
- June 2024: $357,000
- June 2023: $392,655
- Increase/Decrease: -9.1%
Total Sales Volume
- June 2024: $246,140,000
- June 2023: $274,720,000
- Increase/Decrease: -10.4%
Bladen County
New Listings
- June 2024: 25
- June 2023: 12
- Increase/Decrease: +108.3%
Units Sold
- June 2024: 12
- June 2023: 10
- Increase/Decrease: +20%
Average Sales Price
- June 2024: $251,458
- June 2023: $183,280
- Increase/Decrease: +37.2%
Total Sales Volume
- June 2024: $3,020,000
- June 2023: $1,830,000
- Increase/Decrease: +65%
Columbus County
New Listings
- June 2024: 41
- June 2023: 35
- Increase/Decrease: +17.1%
Units Sold
- June 2024: 23
- June 2023: 22
- Increase/Decrease: +4.5%
Average Sales Price
- June 2024: $198,796
- June 2023: $205,708
- Increase/Decrease: -3.4%
Total Sales Volume
- June 2024: $4,570,000
- June 2023: $4,530,000
- Increase/Decrease: +0.9%
Robeson County
New Listings
- June 2024: 10
- June 2023: 17
- Increase/Decrease: -41.2%
Units Sold
- June 2024: 9
- June 2023: 9
- Increase/Decrease: 0%
Average Sales Price
- June 2024: $194,194
- June 2023: $112,222
- Increase/Decrease: +73%
Total Sales Volume
- June 2024: $1,750,000
- June 2023: $1,010,000
- Increase/Decrease: +73.3%