During January, Brunswick County’s residential real estate market saw an increase in new listings for the first time since June 2022 as the market continues trending toward more normal activity levels.
“Last month we saw pretty typical January numbers,” said Cynthia Walsh, BCAR CEO. “Homes sold for more than list price even though the number of available homes increased, which indicates that demand remains strong, and our market is in solid shape as we move toward Spring.”
Brunswick County saw $121,810,000 in total sales volume in January, a 24.8% decrease from last year’s $161,900,000. The average sales price increased 2.2%, from $418,354 to $427,411. New listings were up 20.2%, from 397 to 477. With more available homes for sale, the days on market increased from 30 to 50 days in January.
The number of units sold dropped 26.4%, from 387 to 285. Of the 285 sales in January, nearly half sold at or above list price. The absorption rate, which is the amount of time it would take to sell all available inventory, is holding steady at 2.5 months, which is still in seller’s market territory.
Brunswick County Residential Real Estate Market Update - January 2023
New Listings
January 2023: 477
January 2022: 397
Increase/Decrease: +20.2%
Units Sold
January 2023: 285
January 2022: 387
Increase/Decrease: -26.4%
Average Sales Price
January 2023: $427.411
January 2022: $418.354
Increase/Decrease: +2.2%
Median Sales Price
January 2023: $365,000
January 2022: $330,490
Increase/Decrease: +10.4%
Total Sales Volume
January 2023: $121,810,000
January 2022: $161,900,000
Increase/Decrease: -24.8%
