SHALLOTTE, NC (WWAY) — Brunswick County’s residential real estate market once again saw increased prices and low inventory in August, that’s according to Brunswick County Association of REALTORS®.
While total sales volume was slightly down in August, total year-to-date sales volume is up 44.5% compared to the same month last year.
“On the surface it might seem like last month saw a slight downturn, but when you look closely, the big picture shows that the market is maintaining strength,” said BCAR CEO Cynthia Walsh. “Overall, the market is stable and with year-to-date sales up 44.5%, it is more than a possibility we will reach $2 billion in sales before the 4th quarter.”
In August 2021 Brunswick County saw $246,620,000 in total sales, a 0.7% decrease from last August’s $248,323,000. Despite this decrease, total year-to-date sales are up 44.5% compared to 2020, increasing from $1,244,333,000 to $1,797,989,429.
While number of units sold fell slightly with a 11.1% decrease from 667 to 593, the six-month average remains consistent at approximately 600 – 650 sales a month. The average sales price increased 11.7%, from $372,449 to $415,883, fueled by a higher number of luxury home sales. One hundred and twelve homes sold between $500,000 – $999,999 and 23 homes sold for over $1 million, with the largest two sales being over $3 million.
Average sale prices for the year are up 20.4% compared to last year, increasing from $318,948 to $338,919, and the number of units sold through August is up from $3,820 to $4,666, a 22.1% increase. Demand is high with listings on the market for about 20 days. New listings in August 2021 saw a 7.2% increase, growing from 636 to 682.