March is my favorite month out of year. Why? Because it's my birthday month. Yay! Happy Birthday to me. I turned the very 🍀 lucky 🍀 42 this year.
My age isn't the only number that went up in March. The Brunswick County Residential Real Estate Market is still outpacing 2019 even during COVID-19. Total sales volume and most impressively the average sales price both increased compared to March of 2019. In fact the only decreases were either tiny or not surprising given the ongoing supply crunch.
Watch or read all the March 2020 Brunswick County Residential Real Estate Market Statistics below...
“Given everything we’ve been through in March, these stats are impressive,” said BCAR CEO Cynthia Walsh. “Buyers have continued to search properties online, and many are making offers based solely on viewing properties virtually. Our March numbers demonstrate how popular and sought-after Brunswick County is even in the midst of COVID-19.”
Total Sales Volume:
March 2020: $127,800,000
March 2019: $122,770,000
Increase of 4.1% 🆙
Although the number of units sold decreased a tiny bit (-1.4%) from 437 in March 2019 to 431 in last month, the average sales price increased 5.5%, which helped the sales volume top March 2019 by 4.1%.
I can't believe the average sales price is creeping closer and closer to $300,000!
Average Sales Price
March 2020: $296,515
March 2019: $280,933
Increase of 5.5% 🆙
March is when the data brought to light one of the big effects of the Coronavirus. A decrease in the number of new listings to hit the market. In February 2020 new listings increased 4.1% helping with the existing supply crunch in the county. However new listings hitting the market dropped by 7.6% as compared to the same time in 2019. If this decline continues that tension between supply and demand should push prices up and lower the days on market if buyer demand remains strong.
March 2020: 622
March 2019: 673
Decrease of -7.6%
Watch the the full Brunswick County March 2020 Market Stats including the 1st Quarter numbers by clicking the video below!
Attention Buyers: If these trends continue as predicted the longer you wait the more you will pay for a home in Brunswick County. Purchase a home now while interest rates remain at near a historic low. Check rates by clicking here. If you contact Brian be sure to tell him Jess sent ya :). Ask him about his FHA and USDA programs with as little as 3% down. Oh and here are 3 great reasons to get pre-approved today.
Attention Sellers: If you watched the video you probably know by now it is a FABULOUS time to sell your home.
Especially if your home is priced under $250,000. There is a serious lack of inventory in Brunswick County in this price range.
Supply continues to shrink while buyer demand remains steady. This is a trend not only in Brunswick County but nationwide.
Check out my 3Ps (Price. Presentation. Promotion) for selling your home fast and for the most money.
Here are a few other interesting stats for Brunswick County residential homes sales in March 2020.
The Averages for Brunswick County in March 2020:
Square Feet: 1,830
Price per Square Foot: $163.88
Days on Market: 82
Original List Price: $309,692
Listing Price: $304,133
Sold Price: $296,515
Brunswick County Residential Homes Sales in the 1st Quarter of 2020
Square Feet: 1,826
Price per Square Foot: $163.09
Days on Market: 85
Original List Price: $310,770
Listing Price: $304,591
Sold Price: $295,633
Source for all stats is the NC Regional MLS and Brunswick County Association of Realtors.
That's all for now! If you'd like to stay informed on the Brunswick County real estate market be sure to subscribe to this blog. I look forward to what April 2020 has in store. I have a feeling it will continue to slay 2019.
Til next quarter,
Jess Wainwright ☀️
P.S. If you are curious about how a specific neighborhood, city, or island is performing ask me in the comments, subscribe, or better yet text me (910-518-JESS (5377), and I'll send you a free, no obligation, market snapshot. 😉 I pinky promise I won't stalk you.