Brunswick County’s total real estate sales top $2 billion for third consecutive year

Brunswick County Residential Real Estate Market Update - October 2023

In October, new listings and total sales volume increased, while Brunswick County’s real estate market surpassed $2 billion in year-to-date sales volume for the third consecutive year.

“I remember when $1 billion in total sales volume seemed out of reach, so topping $2 billion for the third straight year is a major milestone for Brunswick County’s real estate market, and this year we crossed that threshold with two months to spare,” said BCAR CEO Cynthia Walsh. “Our market remains active and competitive, even in the face of national headwinds, and we see no indications of a slowdown in our area.”

Brunswick County saw new listings jump 22.8% in October, increasing from 470 to 577. Total sales volume increased 4.1%, from $211,520,000 to $220,100,000. The average sales price increased 2.7%, from $472,150 to $484,802, while the median sales price decreased 12.8%, from $425,000 to $370,750. The number of units sold increased 1.3%, from 448 to 454. Brunswick County saw 35 sales of $1 million or higher, including four sales in excess of $2 million.

Homes spent an average of 46 days on the market in October. The absorption rate, which is the amount of time it would take to sell all the current inventory, remained below three months.

Year-to-date sales volume through October totaled $2,126,230,000, down 2.1% from $2,171,190,000 at the same point in 2022. The average year-to-date sales price dipped 2.9% compared to the same point in 2022, from $454,220 to $440,865, while the median sales price decreased 0.8%, from $369,141 to $366,224. The number of units sold through October fell 4.9% compared to last year, from 4,536 to 4,772 and the number of new listings decreased 1.1%, from 5,622 to 5,561.

Brunswick County Residential Real Estate Market Update - October 2023

New Listings

October 2023: 577

October 2022: 470

Increase/Decrease: +22.8%

Units Sold

October 2023: 454

October 2022: 448

Increase/Decrease: +1.3%

Average Sales Price

October 2023: $484,802

October 2022: $472,150

Increase/Decrease: +2.7%

Median Sales Price

October 2023: $370,750

October 2022: $425,000

Increase/Decrease: -12.8%

Total Sales Volume

October 2023: $220,100,000

October 2022: $211,520,000

Increase/Decrease: +4.1%