Brunswick County Residential Real Estate Market Update - September 2023
In September, Brunswick County’s residential real estate market saw the second-highest increase in new listings this year along with higher prices and quick sales.
“The massive jump in new listings would seem to be a big win for would-be buyers, but it may not be as big of a win as you’d think,” said BCAR CEO Cynthia Walsh. “A large portion of the homes coming into the market are new construction and the luxury market continues to push average and median sales prices higher. Our market is showing no signs of cooling off even though it’s finally getting cooler outside.”
Brunswick County saw a jump in new listings in September, increasing 15.6%, from 468 to 541. Total sales volume decreased by 4.6%, from 215,280,000 to $205,460,000. The average sales price increased 4.7%, from $465,983 to $488,018, and the median sales price increased 3%, from $364,438 to $375,247. The number of units sold dropped 8.9%, from 462 to 421. Brunswick County saw 25 sales in excess of $1 million, including a $3 million sale in Southport and two sales in excess of $2 million.
Homes spent an average of 50 days on the market in September. The absorption rate, which is the amount of time it would take to sell all the current inventory, increased slightly to 2.7 months.
Year-to-date sales volume through September totaled $1,906,130,000, down 2.7% from $1,959,670,000 at the same point in 2022. The average year-to-date sales price dipped 2.5% compared to the same point in 2022, from $452,228 to $440,865, while the median sales price increased 0.9%, from $362,935 to $366,224. The number of units sold through September fell 5.6% compared to last year, from 4,324 to 4,082 and the number of new listings decreased 3.3%, from 5,152 to 4,984.
Brunswick County September 2023 Market Update
New Listings
September 2023: 541
September 2022: 468
Increase/Decrease: +15.6%
Units Sold
September 2023: 421
September 2022: 462
Increase/Decrease: -8.9%
Average Sales Price
September 2023: $488,018
September 2022: $465,983
Increase/Decrease: +4.7%
Median Sales Price
September 2023: $375,247
September 2022: $364,438
Increase/Decrease: +3%
Total Sales Volume
September 2023: $205,460,000
September 2022: $215,280,000
Increase/Decrease: -4.6%
