Brunswick County saw a considerable increase in residential real estate sales and average sales price in July 2015 compared to the previous year, according to statistics released today by the Brunswick County Association of REALTORS®.
“July is showing another healthy increase in units sold and average sales prices and is the second best month in total sales this year, behind June,” said Cynthia Cumbie, interim CEO of the Brunswick County Association of REALTORS®.
Total sales jumped 37 percent between July 2014 and June 2015, according to the latest statistics, going from $46.8 million to $64 million.
The number of units sold went from 204 in July of 2014 to 259 this July, a 27 percent increase, BCAR reported. The average sales price jumped 7.9 percent, from $229,405 to $247,460.
Cumbie stated the average number of days property spends on the market is also steadily decreasing, dropping at least 2 percent each month this year and about 18 percent lower than last year.
Another sign of improvement in the market is the number of pending residential sales, Cumbie said.
“The residential pending numbers are at their highest in the past 25 months and up almost 18 percent over June to 350 pending residential listings in July,” she explained. “If pending sales were to continue at this pace, we would be out of inventory in about six months.”
Two of the biggest sales markets are Boiling Spring Lakes, which has 3.9 months of residential inventory based on pending sales, and the Calabash/Carolina Shores area, which reports 3.6 months of inventory.
Single Family Sales -- Listings
- July 2014: 349
- July 2015: 462
- Change: 32.4%
Single Family Sales -- Units Sold
- July 2014: 204
- July 2015: 259
- Change: 27%
Single Family Sales -- Average Sale Price
- July 2014: $229,405
- July 2015: $247,460
- Change: 7.9%
Single Family Sales -- Total Sales Volume
- July 2014: $46,798,565
- July 2015: $64,092,050
- Change: 37%
Lot Sales -- Units Sold
- July 2014: 78
- July 2015: 75
- Change: -3.8%
Lot Sales -- Average Sale Price
- July 2014: $77,899
- July 2015: $64,482
- Change: -17.2%
These numbers reflect sales within the Brunswick County MLS. Some sales in Brunswick County are included in a neighboring MLS and may not be reflected in this analysis.
Ken Keegan Real Estate Broker
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