For the first time this year, Brunswick County’s residential real estate market saw an increase in new listings during May. Demand remains strong, with homes spending an average of 25 days on the market and selling for more than list price.
“May brought our first increase in new listings so far this year,” said BCAR CEO Cynthia Walsh. “While the pattern of fewer listings has been broken – for now — overall, inventory for the year to date is still running slightly behind 2021. Other numbers remained similar to recent months, and our market is still extremely competitive, with no signs of that changing in the near future.”
Brunswick County saw $269,840,000 in total sales volume in May 2022, a 9.3% increase from last May’s $246,960,000. New listings increased 13%, from 656 to 741. The number of units sold in May dropped 7.6% compared to last year, from 620 to 573, and homes spent an average of 25 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, is 1 1/3 months. The average sales price increased 18.2%, from $398,323 to $470,924. Brunswick County’s luxury market remained strong in May with 28 sales of $1 million or more, including three sales in excess of $3 million, three additional sales in excess of $2 million, and another 22 sales in excess of $1 million.
Year-to-date sales volume through May is $1,044,060,000, down 1.8% from $1,063,489,429 last year. Average sales prices for the year are 15.3% higher than 2021, increasing from $382,161 to $440,574. The number of units sold through May is down 15.9%, from 2,772 to 2,330, and the number of new listings is down 13%, from 3,179 to 2,767.
Brunswick County Residential Real Estate Market Update - May 2022
New Listings
May 2022: 741
May 2021: 656
Increase/Decrease: +13%
Units Sold
May 2022: 573
May 2021: 620
Increase/Decrease: -7.6%
Average Sales Price
May 2022: $470,924
May 2021: $398,323
Increase/Decrease: +18.2%
Median Sales Price
May 2022: $365,000
May 2021: $305,361
Increase/Decrease: +19.5%
Total Sales Volume
May 2022: $269,840,000
May 2021: $246,960,000
Increase/Decrease: +9.3%
