Brunswick County real estate market sets record sales in 2020

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Homes in Brunswick County (Photo: WWAY)

SHALLOTTE, NC (WWAY) — Brunswick County has been a hot spot in recent years for businesses and the real estate market has been no exception. Realtors say the county set a new sales record in 2020.

Brunswick County’s residential real estate market racked up $2,157,449,018 in total sales volume, up 51.3% compared to 2019. That’s according to Brunswick County Association of Realtors. The group also says monthly numbers hit record highs in December, with increases in homes sold and total sales volume.

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“2020 was full of unknowns and uncertainty, but Brunswick County’s real estate market did more than merely stay consistent – it smashed all expectations,” said BCAR CEO Cynthia Walsh. “Total sales for the year topped $2 billion for the first time ever, and we saw record sales in December compared to last year. These numbers are nothing short of amazing, and I’m excited to see what 2021 holds for our market.”

In addition to the increase in sales volume, Brunswick County saw a 6.5% increase in new listings in 2020, going from 6,603 to 7,032. The number of units sold increased by 28.8% from 4,916 to 6,331, and the average sale price increased by 17.5%, rising from $290,077 to $340,741. The largest sale of the year was over $3,000,000, 16 sales were $2,000,000 or greater and 248 sales were between $800,000 to $1,000,000.

In addition to the year-end numbers, the market also saw increased sales volume, higher prices, and a tightening inventory in December. Total sales volume spiked 65.7% compared to last year, rising from $129,440,000 to $214,510,000. Average sale prices increased 13.7%, from $326,857 to $371,768. The number of new listings increased by 13.6%, rising from 339 to 385, while the number of units sold increased by 45.7%, from 396 to 577. The inventory of available homes continued to drop, closing out at nearly 1,200 available homes with an absorption rate and days on the market of just over two months.

Brunswick County December 2020

New Listings

  • December 2020: 385
  • December 2019: 339
  • Increase/Decrease: +13.6%

Units Sold

  • December 2020: 577
  • December 2019: 396
  • Increase/Decrease: +45.7%

Average Sale Price

  • December 2020: $371,768
  • December 2019: $326,857
  • Increase/Decrease: +13.7%

Total Sales Volume

  • December 2020: $214,510,000
  • December 2019: $129,440,000
  • Increase/Decrease: +65.7%

Brunswick County 2020 Year-End Numbers

New Listings

  • 2020 Total: 7,032
  • 2019 Total: 6,603
  • Increase/Decrease: +6.5%

Units Sold

  • 2020 Total: 6,331
  • 2019 Total: 4,916
  • Increase/Decrease: +28.8%

Average Sale Price

  • 2020 Total: $340,741
  • 2019 Total: $290,077
  • Increase/Decrease: +17.5%

Total Sales Volume

  • 2020 Total: $2,157,449,018
  • 2019 Total: $1,426,020,708
  • Increase/Decrease: +51.3%

 

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), BCAR represents the interests of its members in southeastern North Carolina and northeastern South Carolina. For more information, please visit http://www.bcarnc.com.