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%
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