Brunswick County real estate market outpaces April 2019 despite COVID-19 crisis

by May 8, 2020Brunswick County, Real Estate

Sales volume ahead of last year’s record pace.

Brunswick County’s residential real estate market resisted the effects of COVID-19 in April. Units sold, average sales price, and total sales volume all exceeded April 2019, and total sales are ahead of 2019’s record pace, which was up 8.4% from 2018.

“COVID-19 has presented tremendous challenges to all aspects of our economy, but Brunswick County’s real estate market has proved immune to its effects thus far” said Cynthia Walsh, BCAR CEO, “The fact that our market is ahead of last year’s record pace in spite of the coronavirus is a testament to everything Brunswick County has to offer. While the decrease in new listings could foreshadow a future impact, we still have a healthy inventory of active listings, and several homes sold for more than $1 million in April.”

Total sales volume jumped 20.5% in April compared to last year, rising from $110,040,000 to $132,630,000. Average sale prices rose 12.7%, from $292,651 to $329,935, while units sold increased 6.9%, from 376 to 402. The number of new listings decreased from 653 to 384, a 41.2% drop. The absorption rate, which is the amount of time it would take to sell the current inventory of homes, is 4.5 months.

New Listings
• April 2020: 384
• April 2019: 653
• Increase/Decrease: -41.2%

Units Sold
• April 2020: 402
• April 2019: 376
• Increase/Decrease: +6.9%

Average Sale Price
• April 2020: $329,935
• April 2019: $292,651
• Increase/Decrease: +12.7%

Total Sales Volume
• April 2020: $132,630,000
• April 2019: $110,040,000
• Increase/Decrease: +20.5%

BCARStatsApril2020

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.

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