Articles Tagged "Second Home"

SHALLOTTE, N.C. - Brunswick County Association of REALTORS®

Brunswick County's residential real estate market exceeded $2 billion in year-to-date total sales in October with luxury sales leading the way, and more than half of all homes sold during October were sold at or above list price.

"While $2 billion in total sales seemed like an unreachable milestone just a couple of years ago, it doesn't come as a shock this year given our market's consistently strong performance month over month," said Cynthia Walsh, BCAR CEO. "Overall demand remains strong, prices continue to increase, and we continue to see a strong luxury market. Overall, our market is positioned for continued strength as we move into winter."

Brunswick County saw $211,520,000 in total sales volume in October, a 0.5% increase from last year's $210,450,000. The average sales price increased 9.3%, from $432,131 to $472,150. New listings were down 24.4%, from 622 to 470. The number of units sold in October dropped 8% compared to last year, from 487 to 448, and homes spent an average of 33 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market was strong in October with 24 sales in excess of $1 million, including three sales over $2 million and a 3.4 million sale in Ocean Isle Beach.

Year-to-date sales volume through October is $2,168,330,000, down 3.9% from $2,255,559,429 last year. Average sales prices for the year are 11.9% higher than 2021, increasing from $393,703 to $440,574. The number of units sold through October is down 16.9%, from 5,723 to 4,756, and the number of new listings is down 11.3%, from 6,316 to 5,602.

Brunswick County

• New Listings
  • October 2022: 470
  • October 2021: 622
  • Increase/Decrease: -24.4%
• Units Sold
  • October 2022: 448
  • October 2021: 487
  • Increase/Decrease: -8%
• Average Sales Price
  • October 2022: $472,150
  • October 2021: $432,131
  • Increase/Decrease: +9.3%
• Median Sales Price
  • October 2022: $425,000
  • October 2021: $343,168
  • Increase/Decrease: +23.8%
• Total Sales Volume
  • October 2022: $211,520,000
  • October 2021: $210,450,000
  • Increase/Decrease: +0.5%

Bladen County

• New Listings
  • October 2022: 20
  • October 2021: 9
  • Increase/Decrease: +122.2%
• Units Sold
  • October 2022: 12
  • October 2021: 18
  • Increase/Decrease: -33.3%
• Average Sales Price
  • October 2022: $192,408
  • October 2021: $188,289
  • Increase/Decrease: +2.2%
• Total Sales Volume
  • October 2022: $2,310,000
  • October 2021: $3,390,000
  • Increase/Decrease: -31.9%

Columbus County

• New Listings
  • October 2022: 31
  • October 2021: 37
  • Increase/Decrease: -16.2%
• Units Sold
  • October 2022: 29
  • October 2021: 29
  • Increase/Decrease: 0%
• Average Sales Price
  • October 2022: $215,475
  • October 2021: $192,366
  • Increase/Decrease: +12%
• Total Sales Volume
  • October 2022: $6,250,000
  • October 2021: $5,580,000
  • Increase/Decrease: +12%

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

SHALLOTTE, N.C. - Brunswick County Association of Realtors

Brunswick County's residential real estate market felt the impacts of Hurricane Ian during September with fewer new listings and fewer homes sold compared to last year. Prices ticked upward, continuing a recent and familiar pattern.

"September hurricanes often affect our real estate market, and Hurricane Ian was no exception," said Cynthia Walsh, BCAR CEO. "Ian blew through at the end of the month, which is when a large number of closings typically occur. The timing explains why we saw a lower number of homes sold and lower total sales volume last month. While Ian brough a temporary tropical slowdown, and while our market isn't moving at the frantic pace it once was, we continue to see strong demand, and our market remains on track for another strong year."

Brunswick County saw $215,280,000 in total sales volume in September 2022, a 12.9% decrease from last September's $247,120,000. The average sales price increased 7.5%, from $433,541 to $465,983. New listings were down 16.3%, from 559 to 468. The number of units sold in September dropped 18.9% compared to last year, from 570 to 462, and homes spent an average of 30 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market was strong in September with 28 sales in excess of $1 million, including a sale over $4 million in Ocean Isle Beach.

Year-to-date sales volume through September is $1,956,810,000, down 4.3% from $2,045,109,429 last year. Average sales prices for the year are 13.1% higher than 2021, increasing from $389,433 to $440,574. The number of units sold through September is down 17.7%, from 5,236 to 4,308, and the number of new listings is down 9.9%, from 5,694 to 5,132.

Brunswick County

New Listings

• September 2022: 468
• September 2021: 559
• Increase/Decrease: -16.3%

Units Sold

• September 2022: 462
• September 2021: 570
• Increase/Decrease: -18.9%

Average Sales Price

• September 2022: $465,983
• September 2021: $433,541
• Increase/Decrease: +7.5%

Median Sales Price

• September 2022: $364,438
• September 2021: $331,532
• Increase/Decrease: +9.9%

Total Sales Volume

• September 2022: $215,280,000
• September 2021: $247,120,000
• Increase/Decrease: -12.9%

Bladen County

New Listings

• September 2022: 16
• September 2021: 17
• Increase/Decrease: -5.9%

Units Sold

• September 2022: 8
• September 2021: 9
• Increase/Decrease: -11.1%

Average Sales Price

• September 2022: $192,488
• September 2021: $193,967
• Increase/Decrease: -0.8%

Total Sales Volume

• September 2022: $1,540,000
• September 2021: $1,750,000
• Increase/Decrease: -12%

Columbus County

New Listings

• September 2022: 30
• September 2021: 36
• Increase/Decrease: -16.7%

Units Sold

• September 2022: 32
• September 2021: 25
• Increase/Decrease: +28%

Average Sales Price

• September 2022: $202,054
• September 2021: $187,324
• Increase/Decrease: +7.9%

Total Sales Volume

• September 2022: $6,470,000
• September 2021: $4,680,000
• Increase/Decrease: +38.2%

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

SHALLOTTE, N.C. - Brunswick County Association of Realtors

In August, Brunswick County's residential real estate market saw higher prices, fewer new listings, and fewer homes sold compared to last August.  

"While there is talk nationally of a real estate slowdown, Brunswick County's market continues to demonstrate remarkable stability," said Cynthia Walsh, BCAR CEO. "When looking at these numbers, it's important to remember just how abnormal the past few years have been. While the number of homes sold is down slightly compared to last year, sales have been pretty much steady month over month for the past two years, generally hovering between 500 and 600 sales per month, with our usual seasonal dip in December, January, and February. Overall, our market remains on track to once again do something that was unheard of prior to 2020: surpass $2 billion in total sales before the end of the year."

Brunswick County saw $232,570,000 in total sales volume in August 2022, a 5.7% decrease from last August's $246,620,000. The average sales price increased 9.4%, from $415,883 to $455,130. New listings were down 10.4%, from 682 to 611. The number of units sold in August dropped 13.8% compared to last year, from 593 to 511, and homes spent an average of 26 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market remained strong in August with 19 sales in excess of $1 million and two sales of $2 million or more.

Year-to-date sales volume through August is $1,741,530,000, down 3.1% from $1,797,989,429 last year. Average sales prices for the year are 14.8% higher than in 2021, increasing from $383,919 to $440,574. The number of units sold through August is down 17.6%, from 4,666 to 3,846, and the number of new listings is down 9.2%, from 5,135 to 4,664.

Brunswick County

• New Listings
  • August 2022: 611
  • August 2021: 682
  • Increase/Decrease: -10.4%
• Units Sold
  • August 2022: 511
  • August 2021: 593
  • Increase/Decrease: -13.8%
• Average Sales Price
  • August 2022: $455,130
  • August 2021: $415,883
  • Increase/Decrease: +9.4%
• Median Sales Price
  • August 2022: $370,000
  • August 2021: $325,000
  • Increase/Decrease: +13.8%
• Total Sales Volume
  • August 2022: $232,570,000
  • August 2021: $246,620,000
  • Increase/Decrease: -5.7%

Bladen County

• New Listings
  • August 2022: 14
  • August 2021: 20
  • Increase/Decrease: -30%
• Units Sold
  • August 2022: 12
  • August 2021: 13
  • Increase/Decrease: -7.7%
• Average Sales Price
  • August 2022: $305,300
  • August 2021: $232,469
  • Increase/Decrease: +31.3%
• Total Sales Volume
  • August 2022: $3,660,000
  • August 2021: $3,020,000
  • Increase/Decrease: +21.2%

Columbus County

• New Listings
  • August 2022: 45
  • August 2021: 37
  • Increase/Decrease: +21.6%
• Units Sold
  • August 2022: 32
  • August 2021: 33
  • Increase/Decrease: -3%
• Average Sales Price
  • August 2022: $242,337
  • August 2021: $246,548
  • Increase/Decrease: -1.7%
• Total Sales Volume
  • August 2022: $7,750,000
  • August 2021: $8,140,000
  • Increase/Decrease: -4.8%

Robeson County

• New Listings
  • August 2022: 10
  • August 2021: 13
  • Increase/Decrease: -23.1%
• Units Sold
  • August 2022: 6
  • August 2021: 7
  • Increase/Decrease: -14.3%
• Average Sales Price
  • August 2022: $153,083
  • August 2021: $186,214
  • Increase/Decrease: -17.8%
• Total Sales Volume
  • August 2022: $918,500
  • August 2021: $1,300,000
  • Increase/Decrease: -29.3%

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

Last month, Brunswick County's residential real estate market saw its first significant drop in monthly sales volume and increase in inventory so far this year. Total sales volume in October was down 19.5% compared to 2020. The only other month with a drop in total sales volume so far this year is August, which saw a slight 0.7% decrease. The market also saw 135 new listings in October.

"While our market remains ahead of last year's record pace, sales volume was down slightly in October compared to 2020," said BCAR CEO Cynthia Walsh. "Even though some national experts think the market may be in the early stages of a cool-down, Brunswick County's market remains consistent. Prices are up, and homes are selling quickly. We expect our market to remain strong moving into Winter."

Brunswick County saw $210,450,000 in total sales volume in October 2021, a 19.5% decrease from last October's $261,340,000, with luxury sales contributing almost $36,000,000. There were 23 sales in excess of $1 million last month, with the highest being $2.75 million. New listings dropped 6.0% compared to last October, from 662 to 622. The number of units sold decreased 27.3%, from 670 to 487, but pending sales are up 24% over last month. Homes are averaging 30 days on the market, and homes listed below $299,000 are spending 15 days or less on the market. The average sales price increased from $390,062 to $432,131, a 10.8% increase fueled by strong luxury home sales.

The market's year-to-date numbers remain ahead of last year's pace. Total sales volume is up 29.4% compared to 2020, increasing from $1,743,563,000 to $2,255,559,429. Average sales prices are 19.7% higher than 2020, jumping from $328,943 to $393,703. The number of units sold through October is up 10.6%, from 5,175 to 5,723. New listings increased 4.2%, from 6,060 to 6,316.

Brunswick County

New Listings

• October 2021: 622
• October 2020: 662
• Increase/Decrease: -6.0%

Units Sold

• October 2021: 487
• October 2020: 670
• Increase/Decrease: -27.3%

Average Sales Price

• October 2021: $432,131
• October 2020: $390,062
• Increase/Decrease: +10.8%

Median Sales Price

• October 2021: $343,168
• October 2020: $311,500
• Increase/Decrease: +10.2%

Total Sales Volume

• October 2021: $210,450,000
• October 2020: $261,340,000
• Increase/Decrease: -19.5%

Bladen County

New Listings

• October 2021: 9
• October 2020: 9
• Increase/Decrease: 0.0%

Units Sold

• October 2021: 18
• October 2020: 12
• Increase/Decrease: +50.0%

Average Sales Price

• October 2021: $188,289
• October 2020: $134,058
• Increase/Decrease: +40.5%

Total Sales Volume

• October 2021: $3,390,000
• October 2020: $1,610,000
• Increase/Decrease: +110.6%

Columbus County

New Listings

• October 2021: 37
• October 2020: 30
• Increase/Decrease: +23.3%

Units Sold

• October 2021: 29
• October 2020: 23
• Increase/Decrease: +26.1%

Average Sales Price

• October 2021: $192,366
• October 2020: $152,230
• Increase/Decrease: +26.4%

Total Sales Volume

• October 2021: $5,580,000
• October 2020: $3,500,000
• Increase/Decrease: +59.4%

Source: The Brunswick County Association of REALTORS® (BCAR)  http://www.bcarnc.com