Last month a total of 1,101 single family homes sold in the tri-county area of New Hanover, Brunswick and Pender Counties. The Just For Buyers Realty team has crunched the numbers. Here are the stats that every buyer needs to know.
The Average Price of a Home
When compared to June of 2022 the average price of a single family home in the Cape Fear Region increased by nearly 1.5%. When you look at the counties individually:
New Hanover $561,112
Brunswick $499,810
Pender $474,409
Number of New Homes Debuting on the Market
The Cape Fear region saw a decrease in new homes coming on the market. In June of 2022 a total of 1,150 homes were listed. Last month that number fell to only 922. That is a decrease of almost 20%.
Average Number of Days on the Market
The most dramatic change from year to year is the time homes are staying on the market before going under contract. Sellers are waiting on average more than 142% longer than last year. In June 2022 homes were lasting only 19 days. Last month the average home sat for 46 days before finding a new owner.
Average Amount of Asking Price
Last year the average home in the Cape Fear region was going for slightly above the asking price. Last month the average deal fell slightly below the asking price. The difference between June 2022 and 2023 is less than 2%. That’s not a dramatic change, but it is an indicator that buyers are not having to compete as much with other buyers to buy a home.