Oh my gosh you guys. I was sweating bullets 😰 to see how May's numbers would play out. COVID-19 finally had the market running a little bit of a fever 🥵.
“We all knew that May would tell the tale of the Coronavirus,” said BCAR CEO Cynthia Walsh, “Given that new listings were down in May, this month’s lower sales numbers are no surprise. May is the first month we’ve seen a drop in sales this year, and we are ahead of last year’s red-hot pace. While our market hasn’t been totally immune to the effects of COVID-19, overall we are in strong, healthy shape moving into summer.”
Rather watch than read? I've got you covered. Just click below for the May 2020 Brunswick County Residential Real Estate Market Statistics video.
COVID-19 made itself known in the May Brunswick County Residential Real Estate Market. While new listings have been on the decline since the beginning of Corona, units sold, and total sales finally took a dive last month.
Total Sales Volume
May 2020: $105,900,000
May 2019: $140,050,000
May 2020: 566
May 2019: 638
May 2020: 349
May 2019: 496
Pending sales topped the highest total this year at 683 properties going under contract. That's up 30% over last May, jumping from 525 to 683.
Average sale prices increased 7.5%, from $282,369 to $303,439.
If you have been thinking about selling your home IT IS THE RIGHT TIME! Take advantage NOW while your competition remains low and the average sales price continues to increase.
Average Sale Price
May 2020: $303,439
May 2019: $282,369
Increase: +7.5 🆙
Although sales were down in May, 2020 is still outpacing 2019 with the year-to-date sales figures.
The number of units sold so far in 2020 is up 3.7% 🆙, increasing from 1,810 to 1,877. Average sale prices increased 9.5% 🆙, from $276,739 to $303,095, and total sales volume is up 13.2% 🆙, increasing from $505,180,000 to $571,740,000.
In order to get your home sold at the highest possible price in the shortest amount of time you need to work with a real estate professional who not only has her finger on the pulse of the market (pssst..that's me, obviously 😉😆) but also employs the technology and marketing to gain your home the maximum possible exposure to the right buyer demographic (psssst..also me😉😆💁🏻♀️).
I don't even have this property listed but I managed to get 69,000 views on Facebook for this seller's home. I know how to get you the most exposure to the right demographic of buyers. Give me a call to discuss how! 910-518-5377
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 or read anything above you must know by now it is a FABULOUS time to sell your home. DO IT!!!
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. Or better yet call me! 910-524-3463 or 910-518-JESS.
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. 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.
I can't wait to see what happens next!
Til next month,
Jess Wainwright ☀️