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
Jasonpathfinder3

Navigating the Road to Retirement: The Indispensable Benefits of a Well-Crafted Financial Plan

Jason Wheeler - Pathfinder Wealth Consulting
Unknown 7112393341

Why Feasibility is Paramount to Success

Holly Segur - Lead Intuitively – Corporate Coaching
Headshotrosaliecalarco 1182131047

Help Stop Government Impersonator Scams

In The Current Issue

Area YMCA Continues To Expand

The YMCA of Southeastern North Carolina has about 13,000 members; approximately 11,000 live in the greater New Hanover County area....


MADE: Bean Counters By The Sea

Marine Bean is a family-owned and -operated business that buys all of its materials in the U.S., makes its marine-grade bean bags in Wilming...


Submarine Museum Could Surface Here

​A museum would continue to support those military families and honor submarine veterans but also serve as a way to provide science and math...

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