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Oct 2017 Home Sales Statistics

WILMINGTON, N.C. (Nov 13, 2017) October 2017 sales and listing data has been published by the Cape Fear REALTORS® and is now available here.

 

Neal Johnson, 2017 CFR President responded to the data:


“October became the tenth month this year to post an increase in home sales across the Cape Fear Region.  Fueled by the increasing demand and combined with the low supply levels of available homes.  

The CFR Market**has a stronger than expected OCTOBER month with 886 units sold, our BEST October by a long shot!  Demand is UP 33% over Oct 2016, and up over 7.8% over last month.  From Jan to Oct 2017 (YTD) numbers continue to be just as impressive when compared to the same period in 2016. Total sold units rose 15.45%; average sales price rose 4.28%, and total sales volume increased 20.28%.

In New Hanover County** the average home sales price for OCT 2017 was $313,428 or 8.18% higher than that in OCT 2016; this is up 9.46% YTD from 2016. There were 444 units sold in Oct 2017; this is up 20% from Oct 2016 and up 5.2% YTD. The monthly supply of homes in Sept 2017 has decreased to 4 months or down 18.8% from Oct 2016. Median Days on Market (DOM) was 31 days, down 2 days or 6% from a year ago.  BREAKDOWN: Homes under $300K represent a majority of sales or 64% of the total sales. Oct sales were up 11.9% compared to Oct 2016 and have a 2.7 months’ supply of homes. Homes $300K-$499K represent 27% of the sales market. Sales were up 55.3% from Oct 2016 and have a 4.4 months’ supply.  Homes $500K - $749K represent 5% of the market. Sales were down 11.5% from Oct 2016 and had a 9.8 months’ supply. Homes $750K+ represent 5% of all sales. Sales were up 33.3% from Oct 2016 and have a 12.3 months’ supply.

In Pender County** the average home sales price for Oct 2017 was $268,985 or 5.82 % higher than that in Oct 2016; this is up 7.95% YTD from 2016. There were 119 units sold in Oct 2017; this is down 21.2% from Oct 2016 and up 2.3% YTD. The monthly supply of homes in Oct 2017 has declined to 4.8 months, or down 33.5% from Oct 2016. DOM was 47 days, down 27 days or 36% from a year ago. BREAKDOWN: Homes under $300K represent a majority of sales or 73% of the total sales. Sales were up 13% compared to Sept 2016. This group has a 3.2 months’ supply of homes. Homes $300K-ˇ$499K represent 18% of the sales market. Sales were up 10.5% from Oct 2016 and have a 9.1 months’ supply. Homes $500K- $749K represent 7% of the market. Sales were up 300% from Oct 2016, and have a 9.5 months’ supply. Homes $750K+ represent 3% of all sales.  Sales were up 200% from Oct 2016 and have a nine months’ supply.

In Brunswick County** the average home sales price for Oct 2017 was $259,500 or 5.75% higher than that in Oct 2016; this is up 7.21 % YTD from 2016.  There were 392 units sold in Oct 2017; this is up 21.2% from Oct 2016 and up 25.6% YTD. The monthly supply of homes in Oct 2017 has declined at 5.5 months, down 28.6 % from Oct 2016. DOM was 56 days, down 18 days or 24% from a year ago. BREAKDOWN: Homes under $300K represent a majority of sales or 70% of the total sales. Oct sales were up 13.7% compared to Oct 2016 and have a 3.9 months’ supply of homes. Homes $300K- $499K represent 24% of the sales market. Sales were up 46,9% from Oct 2016, and have a 6.4 months’ supply. Homes $500K-ˇ$749K represent 5% of the market. Sales were up 38.5% from Oct 2016, and a have a 14.4 months’ supply. Homes $750K+ represent 2% of all sales.  Sales were down 14.3% from Oct 2016 and had a 17.9 months’ supply.”



CFR* Market Numbers to note:

 

Jan – Oct  2016

Jan – Oct  2017

% Change Jan – Oct

Total Units Sold

7,496

8,654

15.45%

Avg. Sales Price

$251,279

$262,023

4.28%

Median Sales Price

$208,907

$216,153

3.47%

Avg. Days on Market

93

82

-11.60% (11 days)

New Listings

10,351

11,138

7.60%


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ABOUT CAPE FEAR REALTORS®
We are now Cape Fear REALTORS®. As the Cape Fear Region’s Voice of Real Estate, the Cape Fear REALTORS® (CFR) protects the private property rights for local real estate consumers while enhancing the individual and corporate careers of its members. For further information on this topic and others, please visit www.capefear.realtor or contact a Realtor in your area today. * The following CFR market data is based on data on sales of existing single-family homes in the geographic area served by Cape Fear Realtors (CFR); southern Pender County, all of New Hanover County, northern Brunswick County, Duplin County, and Sampson County, and others in southeastern North Carolina. ** The following County market data is based on data from the MLS on sales of existing single-family homes in that entire county. Based on information from the NC Regional MLS LLC, for the period 7/30/16 through 10/30/2017.