Real Estate Update

by Jan 19, 2022North Brunswick, Real Estate

Brunswick County’s real estate market saw an almost $3 billion in total sales in 2021.

Brunswick County’s residential real estate market demonstrated remarkable consistency throughout 2021, ending the year with almost $3 billion in total sales. New listings and units sold were up slightly compared to 2020. Total sales volume was up 26.1% compared to 2020’s record-breaking numbers, with the increase driven in large part by higher average sale prices.

“2020’s record sales totals foreshadowed the numbers we saw in 2021,” said BCAR CEO Cynthia Walsh. “Thanks to continued strong demand and limited inventory, homes are selling quickly and at higher prices. Additionally, we saw an unprecedented number of luxury home sales in 2021. We see no indications of a drop in demand in the near future, so sales volume in January will likely be driven by available inventory. Our market remains in strong shape to kick off the New Year.”

Total sales volume increased from $2,144,523,000 in 2020 to $2,703,339,429 in 2021. The number of new listings were up 2.4%, from 6,992 to 7,157, and the number of units sold increased 7.8%, from 6,285 to 6,777. Average sales prices were up 19.3% compared to 2020, jumping from $334,251 to $398,774. The increase in average sale prices was fueled in part by a strong luxury market: the number of luxury sales jumped from 127 in 2020 to 229 in 2021, and luxury sales comprised nearly 3.5% of the market. Brunswick County’s largest transaction in 2021 was a $6.1 million residence on Bald Head Island.

Year To Date 2021 Real Estate

When it comes to December’s numbers, new listings and units sold were down slightly, total sales volume increased, and homes are spending less time on the market. Total sales volume increased 12.9% compared to December 2020, from $214,510,000 to $242,240,000, and average sales prices were up 18.3%, from $371,768 to $439,631. The increase in average sales prices was largely driven by luxury sales, as was the case throughout 2021. December saw 27 sales of $1 million or higher, with the largest being a $3.75 million transaction.

“December saw the highest number of homes sold in the fourth quarter, which is odd given that December is historically the slowest sales month of the year,” Walsh says. “Prices are up, and the number of pending sales dropped to 400 in December. While the drop in pending sales could foreshadow a decrease in January, we expect the numbers to remain strong given that homes have been selling quickly.”

The number of new listings dropped
4.4% in December, from 385 to 368, and the number of units sold was down 4.5%, from 577 to 551. Homes are spending 30 days or less on the market, depending on location, which is a drop of roughly half since December 2020.

2021 Market Highlights Real Estate

Brunswick County

New Listings

December 2021: 368
December 2020: 385
Increase/Decrease: -4.4%

Units Sold

December 2021: 551
December 2020: 577
Increase/Decrease: -4.5%

Average Sales Price

December 2021: $439,631
December 2020: $371,768
Increase/Decrease: +18.3%

Median Sales Price

December 2021: $359,000
December 2020: $295,000
Increase/Decrease: +21.7%

Total Sales Volume

December 2021: $242,240,000
December 2020: $214,510,000
Increase/Decrease: +12.9%

Bladen County

New Listings

December 2021: 12
December 2020: 7
Increase/Decrease: +71.4%

Units Sold

December 2021: 8
December 2020: 7
Increase/Decrease: +14.3%

Average Sales Price

December 2021: $256,863
December 2020: $292,851
Increase/Decrease: -12.3%

Total Sales Volume

December 2021: $2,050,000
December 2020: $2,050,000
Increase/Decrease: 0.0%

Columbus County

New Listings

December 2021: 16
December 2020: 9
Increase/Decrease: +77.8%

Units Sold

December 2021: 27
December 2020: 24
Increase/Decrease: +12.5%

Average Sales Price

December 2021: $192,142
December 2020: $173,979
Increase/Decrease: +10.4%

Total Sales Volume

December 2021: $5,190,000
December 2020: $4,180,000
Increase/Decrease: +24.2%

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