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DEC 2017 Home Sales Statistics

WILMINGTON, N.C. (Jan 20, 2018) DEC 2017 sales and listing data has been published by the Cape Fear REALTORS® and is now available here.

 

 

Fred Gainey, 2018 CFR President responded to the data:


“Fabulous December and Year End!  We are at the most robust pace we have ever seen. Home sales surged in December to finish the year with new record levels.

The CFR Market* has surpassed the record high for existing-home sales in 2005; setting a new ceiling for units sold of 10,169. Demand is up 7.28% over DEC 2016. From Jan to Dec 2017 (YTD) numbers continue strong when compared to the same period in 2016. Total sold units rose 14.50%; average sales price rose 5.55%, and total sales volume increased 19.34%.

In New Hanover County** the average home sales price for DEC 2017 was $296,473 or 3.9% higher than that in DEC 2016; this is up 8.7% YTD from 2016. There were 390 units sold in DEC 2017 slightly down .05% for DEC 2016. The year ended strong with 5,215 units sold, this is up 4.8 % from last year. The monthly supply of homes in DEC 2017 has decreased to 4 months or down from 4.75 months in DEC 2016. Median Days on Market (DOM) was 32 days, down 7 days from a year ago.

     BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 70%, up from 68% in DEC 2016. DEC sales were up 3% when compared to DEC 2016 and had a 2 months’ supply of homes.
  • Homes $300K-$499K represent 22% of total sold units, down from 23% in 2016. Sales were down 8% from DEC 2016 and have a 3.9 months’ supply, down from a 5 months’ supply in DEC 2016.
  • Homes $500K - $749K represent 5% of total sold units, down for 6% in DEC 2016. Sales were down 24% from DEC 2017 and had a 6 months’ supply, down from an 8 months’ supply in DEC 2016.
  • Homes $750K+ represent 4% of total sold units, up from 3% in DEC 2017. Sales were up 27% from DEC 2016 and have a 11 months’ supply, down from a 14 months’ supply in DEC 2016.

In Pender County** the average home sales price for DEC 2017 was $299.083 or 16.78% higher than that in DEC 2016; this is up 7.9% YTD from 2016. There were 103 units sold in DEC 2017; down 3.7% from DEC 2016.  The year finished slightly above last year with 1,394 units sold, this is up 2.6 % from last year.  The monthly supply of homes in DEC 2017 has declined to 4.6 months, or down from 5.6 months in DEC 2016. DOM was 64 days, down 10 days from a year ago.

 

     BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 60%, down from 69% in DEC 2016. Sales were down 17% compared to DEC 2016. There is a 3.1 months’ supply of homes, down from a 4 months’ supply a year ago.
  • Homes $300K- $499K represent 32% of total sold units, up from 25% in DEC 2017. Sales were up 22% from DEC 2016 and have a 5.5 months’ supply, down from a 7.1 months’ supply in DEC 2016.
  • Homes $500K- $749K represent 7% of total sold units. Sales were up 133% from DEC 2016, and had a 8 months’ supply, down from a 16 months' in DEC 2016.
  • Homes $750K+ represent 1% of total sold units. Sales were down 66% in DEC 2017 compared to DEC 2016. There is a 15 months’ supply, down from a 22 months’ supply in DEC 2106.

In Brunswick County** the average home sales price for DEC 2017 was $264,769 or 7.4% higher than that in DEC 2016; this is up 7.51% YTD from 2016. There were 358 units sold in DEC 2017; up 3.8% from DEC 2016.  The year finished at a new record high level with 4,647 units sold or 22.1% higher than last year. The monthly supply of homes in DEC 2017 has declined to a 5.3 months' supply, down from a 7.3 months’ supply in DEC 2016. DOM was 54 days, down 9 days from a year ago.

     BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 73% for DEC 2017, up from 71% in DEC 2016. Sales were up 6.5% compared to DEC 2016 and had a 3.5 months’ supply of homes, down from a 4.9 supply in DEC 2016.
  • Homes $300K- $499K represent 19% of total sold units, down from 24% in DEC 2016. Sales were down 19% from DEC 2016, and have a 6.2 months’ supply, down from 8.5 months’ supply in DEC 2016.
  • Homes $500K-$749K represent 6% of total sold units. Sales were up 62% from DEC 2016, and have a 9 months’ supply which is down from a 18 months’ supply in DEC 2016.
  • Homes $750K+ represent 2% of total sold units. Sales was up 166% from DEC 2016 and had a 15 months’ supply, down from a 22 month’s supply in DEC 2016.”


CFR* Market Numbers to note:

 

Jan – Dec 2016

Jan – Dec 2017

% Change Jan – Dec

Total Units Sold

8, 916

10,169

14.05%

Avg. Sales Price

$248,744

$262,550

5.55%

Median Sales Price

$208,133

$219,564

5.49%

Avg. Days on Market

95

82

-13.97% (13 days)

New Listings

11,778

12,704

7.86%

 

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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 11/31/2017.