The Brunswick County residential real estate market’s August 2024 numbers were in line with prior years. New listings, average sale prices and total sales volume increased slightly compared to last year, while inventory held steady and both median sale prices and the number of homes sold decreased slightly. The increases in average sale prices and total sales volume were fueled by a strong luxury market, which included a $4.7 million transaction on Bald Head Island.
“Our market demonstrated stability and consistency in August, with numbers on par with recent years,” said Cynthia Walsh, CEO of the Brunswick County Association of REALTORS® (BCAR). “Interestingly, while new listings increased once again, the increase was substantially smaller than we’ve seen throughout this year. Overall, our market is in a strong position. With that said, it will be interesting to see how the county’s recent visit from Potential Tropical Cyclone 8 affects September’s numbers.”
New listings increased 5.9% in August compared to last year, from 613 to 649. The number of units sold decreased 0.7%, from 537 to 533. Average sale prices increased 1.7%, from $480,314 to $488,697, while median sale prices decreased 0.5%, from $385,000 to $383,000. Total sales volume increased 1%, from $257,928,518 to $260,475,276. The months supply of inventory held steady at four months. Below five months is typically considered seller’s market territory. The luxury market remained strong in August, with 29 sales of $1 million or more, including a $4.7 million transaction on Bald Head Island.
Year-to-date sales volume through August totaled $1,858,575,276, up 8% from $1,721,608,518 at the same point in 2023. The average year-to-date sale price increased 5.2% compared to the same point in 2023, from $455,650 to $479,328, while the median sale price increased 0.5%, from $373,717 to $375,570. The number of units sold through August is up 4.2% compared to last year, from 3,713 to 3,869 and the number of new listings increased 22%, from 4,524 to 5,519.
Brunswick County Residential Real Estate Market Update - August 2024
New Listings
August 2024: 649
August 2023: 613
Increase/Decrease: +5.9%
Units Sold
August 2024: 533
August 2023: 537
Increase/Decrease: -0.7%
Average Sales Price
August 2024: $488,697
August 2023: $480,314
Increase/Decrease: +1.7%
Median Sales Price
August 2024: $383,000
August 2023: $385,000
Increase/Decrease: -0.5%
Total Sales Volume
August 2024: $260,475,276
August 2023: $257,928,518
Increase/Decrease: +1%
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