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Nov 2017 Home Sales Statistics

WILMINGTON, N.C. (DEC 15, 2017) NOV 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:

"2017 is proving to be one for the record books for Cape Fear REALTORS®. It’s only November, and we have already surpassed the record high in 2005. A mixture of low mortgage rates, low inventory and record demand is generating a wave of home buying activity across the Cape Fear Region. This activity is propelling home values to escalate to new heights. 

The CFR Market* has another strong month in NOV with 698 units sold. Setting, yet again, a new BEST monthly high. These years has been one for the records! Demand is UP 2.35% over NOV 2016. From Jan to Nov 2017 (YTD) numbers continue strong when compared to the same period in 2016. Total sold units rose 14.52%; average sales price rose 4.25%, and total sales volume increased 19.34%.


In New Hanover County
** the average home sales price for NOV 2017 was $303,467 or 5.22% higher than that in NOV 2016; this is up 9.11% YTD from 2016. There were 365 units sold in NOV 2017; this is up 4.3% from NOV 2016 and up 5.2% YTD. The monthly supply of homes in NOV 2017 has decreased to 4.2 months or down from 5.11 months in NOV 2016. Median Days on Market (DOM) was 29 days, down 11 days from a year ago. 

BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 64%, down from 67%in NOV 2016. NOV sales were flat compared to NOV 2016 and had a 2.3 months’ supply of homes.
  • Homes $300K-$499K represent 26% of total sold units, up from 24% in 2016. Sales were up 11.9% from NOV 2016 and have a 4.2 months’ supply, down from a 5.2 months’ supply in NOV 2016. 
  • Homes $500K - $749K represent 6% of total sold units. Sales were down 4.76 % from NOV 2016 and had a 6.6 months’ supply, down from an 8.8 months’ supply in NOV 2016.
  • Homes $750K+ represent 4% of total sold units, up from 3% in NOV 2017. Sales were up 3.4% from NOV 2016 and have a 12 months’ supply, down from a 15 months’ supply in NOV 2016.


In Pender County
** the average home sales price for NOV 2017 was $255,221 or 1% higher than that in NOV 2016; this is up 7.34% YTD from 2016. There were 105 units sold in NOV 2017; up 12.9% from NOV 2016 and up 3% YTD. The monthly supply of homes in NOV 2017 has declined to 4.2 months, or down from 5.6 months in NOV 2016. DOM was 55 days, down 25 days from a year ago.

BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 67%, down from 76% in NOV 2016. Sales were flat compared to NOV 2016. This group has a 3.2 months’ supply of homes, down from a 4.2 months’ supply a year ago.
  • Homes $300K- $499K represent 27% of total sold units, up from 18% in NOV 2017. Sales were up 39% from NOV 2016 and have a 5.6 months’ supply, down from a 7.7 months’ supply in NOV 2016.
  • Homes $500K- $749K represent 3% of total sold units. Sales were up 50% from NOV 2016, and had an 8.6 months’ supply, down from a 10.5 months' in NOV 2016.
  • Homes $750K+ represent 1% of total sold units. Sales were down from 2 sales in NOV 2016 to 1 sale in NOV 2017. There is a 9 months’ supply, down from a 14 months’ supply in NOV 2106.

 
In Brunswick County** the average home sales price for NOV 2017 was $272,052 or 11.45% higher than that in NOV 2016; this is up 7.53% YTD from 2016. There were 335 units sold in NOV 2017; up 5.3% from NOV 2016 and up 23.8% YTD. The monthly supply of homes in NOV 2017 has declined to a 5.1 months' supply, down from a 6.9 months’ supply in NOV 2016. DOM was 58 days, down 7 days from a year ago. 

BREAKDOWN:

  • Homes under $300K represent a majority of total sold units or 67% for NOV 2017, down from 75% in NOV 2016. Sales were down 5.9% compared to NOV 2016 and had a 3.6 months’ supply of homes, down from a 5.1 supply in NOV 2016.
  • Homes $300K- $499K represent 25% of total sold units, up from 17% in NOV 2016. Sales were up 44.8% from NOV 2016, and have a 6.5 months’ supply, down from 8.8 months’ supply in NOV 2016. 
  • Homes $500K-$749K represent 6% of total sold units. Sales were up 40% from NOV 2016, and have a 10.6 months’ supply which is down from a 17.7 months’ supply in NOV 2016. 
  • Homes $750K+ represent 1% of total sold units. Sales were down 16.7% from NOV 2016 and had a 17.4 months’ supply, down from a 21.9 month’s supply in NOV 2016.”


CFR* Market Numbers to note:

 

 

JAN – NOV 2016

JAN – NOV 2017

% Change
JAN – NOV

Total Units Sold

8,170

9,356

14.52%

Avg. Sales Price

$251,189

$261,870

4.25%

Median Sales Price

$209,279

$216,062

3.24%

Avg. Days on Market

93

81

-12.33% (12 days)

New Listings

11,045

11,964

8.32%

 

 

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 visitwww.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.­­­­­­­­

 

 

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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.

 

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