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May 2017 Home Sales Statistics

WILMINGTON, N.C. (June 12, 2017) May 2017 sales and listing data has been published by the Cape Fear REALTORS® and is now available here.

 

 

CFR Releases May 2017 Housing Sales Data

Neal Johnson, 2017 CFR President responded to the data:

We continue to see strong demand for homes in our area and this is very exciting.  A strong housing market is closely related to the nation’s economy and American’s confidence in our economy.  

The CFR* Market average home sales price hit a nine year high of $274,150 in May 2017, which was 5.6% greater than that in May of 2016, and the sales units were up 18.9% to 968. From January to May 2017 (YTD) numbers are just as fascinating when compared to the same period in 2016. Total sold units were up 19.7%, average sales price was up 4.4%, total sales volume was up 25.21%, and average days on the market dropped 13.2% to 89 days. view details >>

In New Hanover County**, the average home sales price was $317,241 or 7.5% higher than that in May 2016; this is up 8.7% YTD. Sales units were up 10.4% to 508 units sold from 460 units sold in May 2016; this is up more than 9.5% YTD. The monthly supply dropped to a 3.99 month supply level from the May 2016 supply of 4.95 months; supply levels have stabilized and increased a little when we compare it to the April 2017 level of 3.65 months. These trends suggest that New Hanover County remains in a strong seller’s market.  view details >>

In Pender County**, the average home sales price was $273,994 or 7.5% higher than that in May 2016; this is up more than 5.1% YTD. Sales units were flat at 128 units from 127 units in May 2016; this is slightly down .2% YTD. The monthly supply level dropped 23.6% to a 5.2 month supply from the May 2016 supply level of 6.9 months; supply levels are still decreasing when compared to the April 2017 level of 5.5 month supply. These trends suggest that Pender County is on the edge of a balanced market that is moving into a seller’s market.  view details >>

In Brunswick County**, the average home sales price was $287,343 or 13.5% higher than that in May 2016; this is up 9.2% YTD. Sales Units were up 23.5% to 426 units sold from 345 units sold in May 2016; this is up more than 26% YTD. The month supply dropped 22.3% to 7.2 months, down from the May 2016 supply of 9.3 months; supply levels have stabilized when compared to the April 2017 level of 7.3 month supply. These trends suggest that Brunswick County is in a balanced real estate market with a good supply of homes. view details >>

CFR Numbers to note:

 

Jan – May 2016

Jan – May 2017

% Change Jan – May

Total Units Sold

3,259

3,901

19.70%

Avg. Sales Price

$242,794

$253,372

4.36%

Median Sales Price

$201,664

$208,588

3.43%

Days on Market

103

89

- 13.20%

New Listings

5,366

5,702

6.26%

 


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