Real Estate - Residential

Brunswick Co. Home Sales Dip, Prices Increase In August

By Cece Nunn, posted Sep 17, 2021
Brunswick County’s residential real estate market showed higher prices and low inventory in August, which also came with a dip in sales, according to a news release from the Brunswick County Association of Realtors.

The number of units sold in August was down 11% compared to August 2020, from 667 to 593, according to the BCAR statistics from the N.C. Regional Multiple Listing Service.

While the number of units sold fell, the six-month average remained at about 600 to 650 sales a month, the release stated.

The sales volume decrease in August compared to the same month last year was negligible at .7%, from about $248 million to $246.6 million.

 “On the surface, it might seem like last month saw a slight downturn, but when you look closely, the big picture shows that the market is maintaining strength.” said BCAR CEO Cynthia Walsh in the release.

The year-to-date sales volume is up 44.5% compared to 2020, an increase from $1.2 billion to nearly $1.8 billion, according to the release.

Walsh said, "It is more than a possibility we will reach $2 billion in sales before the fourth quarter.”

The average sales price in August increased 11.7% over August last year, from $372,449 to $415,883, fueled by a higher number of luxury home purchases, the release stated.

BCAR's data showed that 112 homes sold between $500,000 and $999,999, and 23 homes sold for more than $1 million, with the largest two sales being over $3 million.

The number of units sold through August is up from 3,820 to 4,666, a 22% increase, the release stated.

Demand is high with listings on the market for about 20 days. New listings in August 2021 saw a 7% increase, growing from 636 to 682.
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