Fall Market Growth Steady According to Brunswick Realtors
The Wilmington housing market was in a strong place this September compared with last year, which means now is a great time to place your home on the market!
According to the recent article published in WilmingtonBiz, the market growth remained steady with average home sale prices increasing 7.1 percent from last year. See the complete article below!
Brunswick County's residential real estate market showed steady growth in September, Realtors said Friday. But the number of units sold decreased by nearly 5 percent from September 2015 to September 2016, from 343 to 327, according to a corrected release from the Brunswick County Association of Realtors. The average number of units sold in the third quarter was nearly flat, with only a 1 percent increase, while the total number for the period decreased slightly by 35 units. The release said the biggest change from September 2015 was a drop in days on market of more than 20 percent and an absorption rate decrease of more than 28 percent from the same time last year. The average sales price for the third quarter increased 7.1 percent from last year, and third quarter total sales volume was up 8.3 percent over the same period in 2016, according to the release. “Brunswick County is an ideal place to live, work, raise a family or retire, and the steady strength of our real estate market bears this out,” said BCAR CEO Cynthia Walsh in the release. | Walsh said the numbers mean that the market is in "strong shape" for this time of year. The September numbers also showed an increase in sales volume over last year, with total sales at nearly $84 million for the month versus about $80 million for September 2015. Year-to-date sales comparisons were strong in all price ranges, according to the N.C. Regional MLS figures the BCAR released, with higher-end sales showing significant gains. Home sales in the $400,000 to $449,000 range increased by 32.5 percent over last year, 50 percent in the $650,000-$699,999 range and 80 percent in the $1.1 million to $1,199,999 category.
For more info on housing market trends and an analysis of your neighborhood,
give us a call today!
Christina Pitz & Associates
910-467-4000