Brought to you by Brunswick County Association of Realtors:
June brought yet another increase in home prices to Brunswick County, with more than half of homes sold selling at or above list price. Total sales volume was down slightly due to tight inventory and fewer homes being sold.
“Our market’s performance continues to impress me despite the tight inventory, and at this rate I don’t see prices dipping anytime soon,” said Cynthia Walsh, BCAR CEO. “With the majority of homes selling for list price or more, strong demand is apparent, and I have no doubt that we’ll hit the $2 billion mark by the end of the year.”
Brunswick County saw $248,140,000 in total sales volume in June 2022, a 3.8% decrease from last June’s $257,860,000. The average sales price increased 23.2%, from $387,170 to $477,185. New listings increased 3.4%, from 678 to 701. The number of units sold in June dropped 21.9% compared to last year, from 666 to 520, and homes spent an average of 27 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, is 1.7 months. Of the 520 homes sold in June, 68% sold at or above list price. Brunswick County’s luxury market remained strong in June with 33 sales of $1 million or more, with the highest transaction under $4 million.
Year-to-date sales volume through June is $1,292,200,000, down 0.5% from $1,298,469,429 last year. Average sales prices for the year are 18.8% higher than 2021, increasing from $370,896 to $440,574. The number of units sold through June is down 18.2%, from 3,485 to 2,850, and the number of new listings is down 8.1%, from 3,772 to 3,468.
Brunswick County Residential Real Estate Market Update - June 2022
New Listings
June 2022: 701
June 2021: 678
Increase/Decrease: +3.4%
Units Sold
June 2022: 520
June 2021: 666
Increase/Decrease: -21.9%
Average Sales Price
June 2022: $477,185
June 2021: $387,170
Increase/Decrease: +23.2%
Median Sales Price
June 2022: $387,634
June 2021: $379,000
Increase/Decrease: +2.3%
Total Sales Volume
June 2022: $248,140,000
June 2021: $257,860,000
Increase/Decrease: -3.8%
