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January 2017 Home Sales Statistics

WILMINGTON, N.C. (February 10, 2017) January 2017 sales and listing data has been published by the Cape Fear REALTORS® and is now available here.

 

 

View the latest numbers by clicking here
View county data (New Hanover, Brunswick & Pender) click here

 

Neal Johnson, 2017 CFR President responded to the data:

"Our area residential home sales stats for January 2017 have just been released, and I am very pleased with what I see. The figures continue to confirm how active, healthy and robust our real estate market is today. January 2017 had an incredible record setting 601 total units sold; this is the highest number we have ever seen in our January history, up over 40.75% when compared to January 2016.  We ended with a total of $139,815,629 in residential home sales volume, a massive 42% increase over January 2016. January 2017 median sales price had an increase of 1.70% compared to January 2016.

In New Hanover County we see higher, more robust sales stats.  January 2017 median sales price was up 8.65% to $213,000 compared to January 2016 of $196,000.  January 2017 median list price was up 11.32% to $329,504 compared to January 2016 of $296,000.  Median days on the market in January 2017 was down 18.64 % to 48 days compared to January 2016 of 59 days.  What is also interesting to note is the continued decline in the absorption rate of homes in New Hanover County, it dropped 28.4% in January 2017 to 3.64 months compared to January 2016 of 5.08 months.  In the real estate industry, it is widely considered that anytime the absorption rate drops below five months we are in a Seller’s Market.  We have also noticed similar trends for both adjacent counties, Pender and Brunswick.

All this data should be great news for homes sellers and those who are wondering if now is a good time to list their home for sale. Contact a REALTOR today if you are interested in selling your home.” 

Numbers to note:

 

Jan – Jan 2016

Jan – Jan 2017

% Change Jan – Jan

Total Units Sold

427

601

40.75%

Avg. Sales Price

$230,036

$232,638

1.13%

Median Sales Price

$194,208

$197,500

1.70%

Days on Market

104

95

- 9%

New Listings

897

880

-1.90%

 


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