Hello and welcome. This is Nolan with Discover NC Homes and Nolan’s News. And as always, thank you for having us. Wanted to look today at, just analyze, I guess, the past sales data in Brunswick County.
So actually I had some great help doing this. Brunswick County Code and Administration Office provided these numbers. And they often track them if for example they need more building inspectors, these numbers are good for them to have, to see the number of sales, the increase in sales price, etc. So, I looked at data from 2020 till now- present, or let’s say August (this data was since August, 2023).
So in 2020, (and it’s a 12 month scale – and please check out the link to this newsletter/video too, because it has the numbers broken down and a bar graph and data format as well), so in 2020, average sales price in Brunswick County started out at $384,000 – and that was in January 2020. By December, it had gone up to $401,000. So, 2020 was our rise to this crazy post-COVID boom here in Brunswick County.
So, from 2020, 2021 and 2022, we had great increase in numbers. Just as an example, again, January 2020 was $384,000 – we ended 2022 in December with the average sales price being $568,000. So quite an increase!
This year, interestingly, and not surprisingly, we’ve cooled off a little bit. Our numbers have gone slightly down from where we were in 2022, but they haven’t plummeted at all. And I think this is just part of the leveling out of our marketplace, which it had to happen at some point. I think it’s happened across the country. There’s still pockets of Brunswick County that are selling extremely well and fast, but we have leveled our market out. So it just, again, example, it will take our last data point in August of 2022, the average sales point was $530,000 and in August this year it was $514,000. So we have seen that little dip, but we haven’t gone nearly to back to where we were in 2020.
My prediction for our market is we are going to see a little bit more of a dip and a leveling off, which I think is healthy. Some of these prices have been inflated, maybe not what a seller wants to hear, but still if the seller has owned their home prior to 2020, they have some great equity gain.
So I guess the point is, I think we are at a new price point and norm in Brunswick County, which is good for the county overall. I think we are leveling off, which is not a bad thing. So the exorbitantly high prices might be gone, but we’re still at a much higher average than we were, in 2020 or before COVID.
So, really interesting data. Please check it out. Again, thank you to Brunswick County Code Enforcement for providing these numbers and if you have any questions at all, please give us a call. Thank you so much.
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About Nolan Formalarie
Nolan Formalarie has been in the North Carolina Real Estate Industry for over 8 years and enjoys every minute of it. He is involved in every aspect of the industry including selling and purchasing residential property, home watch services, property management, association management and construction.
