Brunswick County real estate market closes out 2023 with consistent numbers.

Brunswick County’s residential real estate market closed out 2023 with numbers very similar to last year’s performance. The number of new listings increased while the average sales price, the number of homes sold and total sales volume all saw slight decreases compared to 2022.

“2023’s numbers were very similar to 2022, and our market seems to be cruising along steady and smooth,” says Cynthia Walsh BCAR CEO. “Thanks to continued strong demand, average sales prices increased throughout the year, however, total sales volume is slightly down compared to last year, but it’s hard to complain about $2 billion in sales. Overall, our market is positioned for a strong 2024.”

Total sales volume decreased from $2,530,790,000 in 2022 to $2,486,990,000 in 2023. Average sales prices for the year were down 2.8% compared to 2022, from $453,440 to $440,865. New listings increased 5.6%, from 6,068 to 6,407, and the number of units sold dropped 5%, from 5,572 to 5,295.

When it comes to December’s numbers, they tracked as expected with fewer homes sold and a slight increase in new listings and average sales prices.

Total sales volume decreased 5.9% compared to December 2022, from $180,100,000 to $169,400,000, while average sales prices were up 4.1%, from $445,799 to $464,117. Luxury homes may have been the holiday gift of the season, with 22 transactions in excess of $1 million, four in excess of $2 million and one in excess of $3 million.

New listings were up 6.2% in December, from 325 to 345, and the number of units sold dropped 9.7%, from 404 to 365. Homes spent an average of 50 days on the market in December. The absorption rate, which is the amount of time it would take to sell all available inventory, remains around three months.

BCAR Year to Date Highlights 2024

Brunswick County

• New Listings
o December 2023: 345
o December 2022: 325
o Increase/Decrease: +6.2%

• Units Sold
o December 2023: 365
o December 2022: 404
o Increase/Decrease: -9.7%

• Average Sales Price
o December 2023: $464,117
o December 2022: $445,799
o Increase/Decrease: +4.1%

• Median Sales Price
o December 2023: $353,500
o December 2022: $359,900
o Increase/Decrease: -1.8%

• Total Sales Volume
o December 2023: $169,400,000
o December 2022: $180,100,000
o Increase/Decrease: -5.9%

Bladen County

• New Listings
o December 2023: 8
o December 2022: 10
o Increase/Decrease: -20%

• Units Sold
o December 2023: 6
o December 2022: 11
o Increase/Decrease: -45.5%

• Average Sales Price
o December 2023: $401,333
o December 2022: $177,341
o Increase/Decrease: +126.3%

• Total Sales Volume
o December 2023: $2,410,000
o December 2022: $1,950,000
o Increase/Decrease: +23.6%

Columbus County

• New Listings
o December 2023: 23
o December 2022: 17
o Increase/Decrease: +35.3%

• Units Sold
o December 2023: 26
o December 2022: 10
o Increase/Decrease: +160%

• Average Sales Price
o December 2023: $201,687
o December 2022: $216,250
o Increase/Decrease: -6.7%

• Total Sales Volume
o December 2023: $5,240,000
o December 2022: $2,160,000
o Increase/Decrease: +142.6%

Robeson County

• New Listings
o December 2023: 8
o December 2022: 1
o Increase/Decrease: +700%

• Units Sold
o December 2023: 5
o December 2022: 3
o Increase/Decrease: +66.7%

• Average Sales Price
o December 2023: $158,460
o December 2022: $305,333
o Increase/Decrease: -48.1%

• Total Sales Volume
o December 2023: $792,300
o December 2022: $916,000
o Increase/Decrease: -13.5%

BCAR Market Highlights 2024

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 bcarnc.com.

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