In December a total of 669 homes sold in New Hanover, Brunswick and Pender Counties. The Just For Buyers Realty team has studied each of those sales and crunched the numbers to find some hidden trends.
From January 2023 to January 2024, the average price of a home sold in the tri-county area of New Hanover, Brunswick, and Pender Counties increased by more than $62,000. When you take the luxury homes out of the mix (the homes that sold for more than $1 million) the average price was $425,881 compated to $407,556 in 2023.
Once again, the numbers show that homes are sitting on the market for longer periods of time. Compared to last year, the average home remained on the market for an additional two weeks before going under contract.
With prices declining and homes lingering on the market longer, an increasing number of homeowners are deciding that now is not the right time to list their properties. In January, new listings coming on the market decreased year-over-year by nearly 28.6%.
This graphic illustrates the percentage of the asking price that sellers are receiving. That figure did experience a slight decrease last month.