Homes still selling for more than list price
Brunswick County’s residential real estate market saw a slight increase in new listings in February, while the average sales price decreased for the first time in over a year. While there were fewer sales, a number of homes sold for more than list price.
“Our market is still inching toward normal pace, we’re not quite there yet,” said Cynthia Walsh, BCAR CEO. “While average sale prices were down slightly in February, they’re still substantially higher than they were a couple of years ago. The bottom line is that our market is still highly competitive, with homes continuing to sell for more than the original list price.”
Brunswick County saw $141,490,000 in total sales volume in February, a 19.2% decrease from last year’s $175,080,000. The average sales price decreased 4.2%, from $457,130 to $437,933. New listings were up 12.8%, from 438 to 494. The number of units sold decreased 17.8%, from 383 to 315. Homes spent an average of 60 days on the market, and sellers received 95% of the original list price on average. There were 36 sales over original list price in February. Brunswick County’s luxury market remained strong, with 12 sales in excess of $1 million and two sales over $2 million on Bald Head Island.
Year-to-date sales volume through February totaled $263,300,000, down 21.9% from last year’s $336,980,000. Average sales price for the year is down 1.2% over 2022, decreasing from $437,742 to $432,672. The number of units sold through February is down 22.1%, from 770 to 600, and the number of new listings is up 16.3%, from 835 to 971.
Brunswick County Residential Real Estate Market Update - February 2023
New Listings
February 2023: 494
February 2022: 438
Increase/Decrease: +12.8%
Units Sold
February 2023: 315
February 2022: 383
Increase/Decrease: -17.8%
Average Sales Price
February 2023: $437,933
February 2022: $457,130
Increase/Decrease: -4.2%
Median Sales Price
February 2023: $364,900
February 2022: $356,991
Increase/Decrease: +2.2%
Total Sales Volume
February 2023: $141,490,000
February 2022: $175,080,000
Increase/Decrease: -19.2%
