Last month a total of 1,032 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 July of 2023, the average housing price in the Cape Fear region increased by 19%. However, take that with a huge grain of salt, as this figure is skewed by several high-dollar sales, including the $13.9 million transaction featured in our Luxury Report. If high-end homes—those priced at $1 million or more—are excluded, the average price of a single-family home in the Cape Fear region would be $464,627.
Number of New Homes Debuting on the Market
The Cape Fear region saw a slight increase in new homes coming on the market. In July of 2023 a total of 630 homes were listed. Last month that number dropped increased to 634. That is a decrease of only .06%.
Average Number of Days on the Market
Sellers are waiting on average 4 more days longer than they were last year. In July 2023 homes were lasting only 43 days. Last month the average home sat for 47 days before finding a new owner.
Average Amount of Asking Price
Last month, on average, buyers were able to talk down sellers of their asking price by 1.5.% That is a slight decrease from last year.