The real estate market in southeastern North Carolina remained strong through November, according to statistics released by two local REALTOR® associations.

Brunswick County’s real estate market remains on a red-hot record pace, according to the Brunswick County Association of REALTORS®, with last month’s numbers including the highest number of homes sold in November on record.

“Our market has remained incredibly strong and consistent despite the adversity 2020 has thrown our way” said BCAR CEO Cynthia Walsh. “Pending sales are up, homes are selling for more than the asking price, and we are only $72 million dollars away from hitting $2 billion in total residential home sales this year. We expect the market to remain strong as we move into the New Year.”

Brunswick County saw $186,450,000 in total sales in November 2020, a 59.6% spike over last November’s $116,810,000. The number of units sold jumped 38.4%, from 385 to 533 – the most homes ever sold in Brunswick County in November — with 42% of sales at or above the listing price. November marks the sixth consecutive month with 500 or more sales. The average sale price increased 15.3%, from $303,415 to $349,811. There were 12 luxury sales of $1 million and greater, with the largest being a $2.5 million home on Ocean Isle Beach. Additionally, there were 16 luxury sales between $750,000-$999,000, a 116% increase compared to 2019.

Total year-to-date sales are up 49.7% compared to this time in 2019, increasing from $1,288,520,000 to $1,929,083,000. Average sale prices are up 16.9% compared to last year, increasing from $283,033 to $330,822, and the number of units sold is up from 4,489 to 5,705, a 27.1% increase.

Additionally, the Wilmington-based Cape Fear REALTORS® released numbers for the tri-county region comprised of New Hanover, Brunswick and Pender Counties. Closed sales in the entire tri-county region were up 36.7% over November 2019, with 533 of the 1,164 closed sales coming from Brunswick County. Pending sales increased 44.5% from 815 in 2019 to 1,178 this November, and new listings were up 7.9%.

In the tri-county region, median sales price for Single-Family and Townhome/Condo combined posted an increase of 10.9% year-over-year, to a new high of $281,810. Despite upward pressure on sales price, there remain pockets of affordability, specifically within the townhouse/condo market, which gained a more modest 5.8% in November 2020. The fastest selling properties are priced at $150,000 and below and sell within 47 days. Single-family properties with three or more bedrooms remain the most competitive and desired property category. 

“Although we can’t predict what the future will hold; we are certain that mortgage rates and inventory will remain low, continuing to drive buyer demand,” Tony Harrington, 2020 Cape Fear REALTORS® President, says “I believe this winter will be one of the strongest sales activity we’ve ever seen.”

Brunswick County

New Listings

  • November 2020: 547
  • November 2019: 452
  • Increase/Decrease: +21%

Units Sold

  • November 2020: 533
  • November 2019: 385
  • Increase/Decrease: +38.4%

Average Sale Price

  • November 2020: $349,811
  • November 2019: $303,415
  • Increase/Decrease: +15.3%

Total Sales Volume

  • November 2020: $186,450,000
  • November 2019: $116,810,000
  • Increase/Decrease: +59.6%

Bladen County

New Listings

  • November 2020: 5
  • November 2019: 11
  • Increase/Decrease: -54.5%

Units Sold

  • November 2020: 14
  • November 2019: 7
  • Increase/Decrease: +100%

Average Sale Price

  • November 2020: $192,211
  • November 2019: $147,389
  • Increase/Decrease: +30.4%

Total Sales Volume

  • November 2020: $2,690,000
  • November 2019: $1,030,000
  • Increase/Decrease: 161.2%

Columbus County

New Listings

  • November 2020: 22
  • November 2019: 20
  • Increase/Decrease: +10%

Units Sold

  • November 2020: 22
  • November 2019: 17
  • Increase/Decrease: +29.4%

Average Sale Price

  • November 2020: $131,506
  • November 2019: $131,956
  • Increase/Decrease: -0.3%

Total Sales Volume

  • November 2020: $2,890,000
  • November 2019: $2,240,000
  • Increase/Decrease: +29%
Facebook Comments