$1 Billion and Counting

by Jul 9, 2024Online Exclusives, Real Estate

The Brunswick County real estate market sees strong sales, higher prices and more new listings in May.

Brunswick County’s residential real estate market closed out May in strong shape, surpassing $1 billion in year-to-date sales volume in only five months. While the number of homes sold in May was down slightly compared to 2023, the total was the highest of any month so far in 2024. The market also saw higher prices and more new listings in May.

“I don’t think I can emphasize how significant it is that we’ve already hit $1 billion in total sales this year,” says Cynthia Walsh, CEO of the Brunswick County Association of REALTORS® (BCAR). “To hit $1 billion in five months, when a decade ago we couldn’t hit $1 billion in a year, shows the growth and continued strength of our market. Inventory has steadily grown this year, but with consistent gains in sales volume and units sold we expect demand to continue to meet supply.”

New listings increased 15.4% in May, from 603 to 696, while the number of units sold decreased 3.8%, from 583 to 561. Average sale prices increased 4.8%, from $464,830 to $486,971, and median sale prices increased 1.9%, from $374,000 to $381,115. Total sales volume increased 0.8%, from $271,000,000 to $273,190,000. Thanks to steady increases in new listings this year, the month’s supply of inventory is now four months. Below five months is typically considered seller’s market territory.

Year-to-date sales volume through May totaled $1,101,480,000, up 54.8% from $711,610,583 at the same point in 2023. The average year-to-date sale price increased 38.9% compared to the same point in 2023, from $349,087 to $484,907, while the median sale price increased 29.2%, from $292,133 to $377,425. The number of units sold through May is up 3.8% compared to last year, from 2,173 to 2,255 and the number of new listings increased 25.2%, from 2,788 to 3,491.

Brunswick County Real Estate Market Highlight

Brunswick County

• New Listings
o May 2024: 696
o May 2023: 603
o Increase/Decrease: +15.4%

• Units Sold
o May 2024: 561
o May 2023: 583
o Increase/Decrease: -3.8%

• Average Sales Price
o May 2024: $486,971
o May 2023: $464,830
o Increase/Decrease: +4.8%

• Median Sales Price
o May 2024: $381,115
o May 2023: $374,000
o Increase/Decrease: +1.9%

• Total Sales Volume
o May 2024: $273,190,000
o May 2023: $271,000,000
o Increase/Decrease: +0.8%

Bladen County

• New Listings
o May 2024: 8
o May 2023: 13
o Increase/Decrease: -38.5%

• Units Sold
o May 2024: 7
o May 2023: 14
o Increase/Decrease: -50%

• Average Sales Price
o May 2024: $287,700
o May 2023: $230,793
o Increase/Decrease: +24.7%

• Total Sales Volume
o May 2024: $2,010,000
o May 2023: $3,230,000
o Increase/Decrease: -37.8%

Columbus County

• New Listings
o May 2024: 49
o May 2023: 31
o Increase/Decrease: +58.1%

• Units Sold
o May 2024: 26
o May 2023: 26
o Increase/Decrease: 0%

• Average Sales Price
o May 2024: $256,978
o May 2023: $194,904
o Increase/Decrease: +31.8%

• Total Sales Volume
o May 2024: $6,680,000
o May 2023: $5,070,000
o Increase/Decrease: +31.8%

Robeson County

• New Listings
o May 2024: 12
o May 2023: 11
o Increase/Decrease: +9.1%

• Units Sold
o May 2024: 16
o May 2023: 3
o Increase/Decrease: +433.3%

• Average Sales Price
o May 2024: $189,353
o May 2023: $251,667
o Increase/Decrease: -24.8%

• Total Sales Volume
o May 2024: $3,030,000
o May 2023: $755,000
o Increase/Decrease: +301.3%

Brunswick Real Estate Market Year to Date

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. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina.

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

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