No Slowdown Here
In August, Brunswick County’s residential real estate market saw higher prices, fewer new listings and fewer homes sold compared to last August.
“While there is talk nationally of a real estate slowdown, Brunswick County’s market continues to demonstrate remarkable stability,” said Cynthia Walsh, BCAR CEO. “When looking at these numbers, it’s important to remember just how abnormal the past few years have been. While the number of homes sold is down slightly compared to last year, sales have been pretty much steady month over month for the past two years, generally hovering between 500 and 600 sales per month, with our usual seasonal dip in December, January and February. Overall, our market remains on track to once again do something that was unheard of prior to 2020: surpass $2 billion in total sales before the end of the year.”
Brunswick County saw $232,570,000 in total sales volume in August 2022, a 5.7% decrease from last August’s $246,620,000. The average sales price increased 9.4%, from $415,883 to $455,130. New listings were down 10.4%, from 682 to 611. The number of units sold in August dropped 13.8% compared to last year, from 593 to 511, and homes spent an average of 26 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County’s luxury market remained strong in August with 19 sales in excess of $1 million and two sales of $2 million or more.
Year-to-date sales volume through August is $1,741,530,000, down 3.1% from $1,797,989,429 last year. Average sales prices for the year are 14.8% higher than 2021, increasing from $383,919 to $440,574. The number of units sold through August is down 17.6%, from 4,666 to 3,846, and the number of new listings is down 9.2%, from 5,135 to 4,664.
Brunswick County Residential Real Estate Market Update - August 2022
New Listings
August 2022: 611
August 2021: 682
Increase/Decrease: -10.4%
Units Sold
August 2022: 511
August 2021: 593
Increase/Decrease: -13.8%
Average Sales Price
August 2022: $455,130
August 2021: $415,883
Increase/Decrease: +9.4%
Median Sales Price
August 2022: $370,000
August 2021: $325,000
Increase/Decrease: +13.8%
Total Sales Volume
August 2022: $232,570,000
August 2021: $246,620,000
Increase/Decrease: -5.7%
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