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June 2017 Home Sales Statistics

WILMINGTON, N.C. (July 11, 2017) June 2017 sales and listing data has been published by the Cape Fear REALTORS® and is now available here.

 

 “Existing-home sales continued to trend upward in June 2017 to show robust demand for buying homes across the Cape Fear Region. Low supply levels helped propel the average sales price to new highs while decreasing the median days a home is on the market. The dwindling supply of homes in certain price ranges is a concern; we need more homes listed to keep up with this demand.

The CFR* Market *average home sales price was $269,287 in June 2017, which was 2.1% greater than that in June of 2016. Sales units hit a record high in June of 1,100 units sold is 13.5%. From January to June 2017 (YTD) numbers are just as fascinating when compared to the same period in 2016. Total sold units rose 18.5%; average sales price rose 4.0%, total sales volume rose 23.3%.

In New Hanover County**, the average home sales price for June 2017 was $301,654 or 2.2% higher than that in June 2016; this is up 7.1% YTD from 2016. Sales units were flat with 542 units sold in June 2017 when compared to 541 units sold in June 2016; this is still up more than 7.6% YTD. The monthly supply level dropped 16.5% to a 4.1 month supply from the June 2016 supply of 4.9 months. The 2017 YTD supply level dropped 22.7% to a 3.8 month supply level compared to the 2016 YTD supply level of 5 months. Median Cumulative Days on Market (CDOM) reduced an incredible 58% to 15 days in June 2017.

In Pender County**, the average home sales price for June 2017 rose 21.5% to $297,901 compared to that in June 2016; this is up 9.1% YTD from 2016. Sales units rose 13.8% to 178 units sold in June 2017 compared to 157 units sold in June 2016. The monthly supply dropped 7.3% to a 5.5 month supply from the June 2016 supply of 6.7 months. The 2017 YTD supply level was down 28.1% to a 5.4 month supply level compared to the 2016 YTD level of 7.6 months.

In Brunswick County**, the average home sales price for June 2017 rose 8% to $254,498 when compared to June 2016; this is up 8% YTD from 2016. Sales units jumped up 32% to 520 units sold in June 2017 when compared to 394 units sold in June 2016. Units sold are up over 27.4% YTD of 2017 when compared to 2016 YTD. The monthly supply level dropped 24.2% to a 6.8 month supply from the June 2016 supply of 9.0 months. The 2017 YTD supply level is down 20.2% to a 7.21 month supply when compared to the 2016 YTD supply level of 9 months.”

 


CFR* Market Numbers to note:

..

Jan – June 2016

Jan – June 2017

% Change Jan – June

 

4,228

5,011

18.52%

Avg. Sales Price

$246,272

$256,238

4.04%

Median Sales Price

$204,053

$208,638

2.25%

Days on Market

102

89

- 13.09%

New Listings

6,479

6,900

6.5%


 

 


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