Print
Real Estate - Residential

Brunswick County Realtors Highlight New Listings Increase In March Report

By Staff Reports, posted Apr 17, 2024

According to a residential real estate report released Wednesday, new listings in Brunswick County increased by nearly 28% in March compared to the same period last year, while units sold fell about 4%.

A news release from the Brunswick County Association of Realtors (BCAR) stated the market in the rapidly growing county experienced a "typical seasonal warmup in March, with new listings increasing by more than a quarter compared to last March and a strong luxury market pushing the average sales price to almost $500,000."

The listings jumped from 610 to 780, and the total sales volume increased 5% compared to March 2023, from $240.6 million to $252.6 million, the release stated. The number of homes sold decreased 3.8%, from 527 to 507.

Homes spent an average of 70 days on the market, decreasing by five days compared to last year. The absorption rate is hovering around 3 months; below five months is generally considered a seller’s market, the release stated.

Cynthia Walsh, CEO of BCAR, stated in the release, “March brought higher prices, driven in part by an extremely strong luxury market, and more homes coming onto the market. Homes are spending slightly fewer days on the market than last year, which indicates that demand remains strong.

"Overall, our market is strong as ever, and I see no indications of a slowdown in the coming months.”

The average sales price in March increased 9.2%, from $456,567 to $498,365 while the median sales price increased 2.2%, from $365,000 to $372,990, according to the release.

Of the 38 luxury home sales ($1 million or more) that took place in March, there were 12 in Ocean Isle Beach, 10 in Oak Island, 10 in Holden Beach, five in Bald Head Island and one in Southport. The two highest sales were a $6 million sale on Bald Head Island and a $4.5 million sale in Holden Beach.

The year-to-date sales volume through March totaled $561 million up about 10% from $510 million at the same point in 2023.

Brunswick County

  • New Listings
    • March 2024: 780
    • March 2023: 610
    • Increase/Decrease: +27.9%
  • Units Sold
    • March 2024: 507
    • March 2023: 527
    • Increase/Decrease: -3.8%
  • Average Sales Price
    • March 2024: $498,365
    • March 2023: $456,476
    • Increase/Decrease: +9.2%
  • Median Sales Price
    • March 2024: $372,990
    • March 2023: $365,000
    • Increase/Decrease: +2.2%
  • Total Sales Volume
    • March 2024: $252,670,000
    • March 2023: $240,610,000
    • Increase/Decrease: +5%
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign13

The Benefits of Choosing Local Partners in Construction

Jim Hundley - Thomas Construction Group
Untitleddesign4 212391244

Firing With Compassion

Andy Almeter - Leath HR Group, LLC
Jane

It’s Child’s Play

Jane Morrow - Smart Start of New Hanover County

Trending News

Tech Wilmington: Upcoming Events Calendar

Staff Reports - Feb 12, 2025

Pet Pampering Options Grow

Samantha Kupiainen - Feb 12, 2025

Small Business Spotlight: Bookstore Fans Romantasy Flame

Staff Reports - Feb 12, 2025

Publix Confirms Upcoming Leland Store

Staff Reports - Feb 12, 2025

OPINION: Seeing Green: A Case For Community Collaboration On Parks And Green Space

Luke Waddell - Feb 12, 2025

In The Current Issue

Seeking A Workforce Cure

For New Hanover County and the region, nursing remains the greatest health care workforce shortage, said Jack Watson, dean of the College of...


Pet Pampering Options Grow

In the Wilmington area, a growing number of pet boarding facilities cater to owners interested in giving their pet the furry friend-version...


Schools Aim To Grow Apprenticeships

Apprenticeships have been gaining traction at local community colleges....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season