My Blog: Area Real Estate Continues To Boom Despite Covid-19

Cynthia Walsh, CEO of Brunswick County Real Estate Commission, gave a very positive report detailing how Brunswick County’s residential real estate market resisted the effects of COVID-19 in April.

Units sold, average sales price and total sales volume all exceeded April 2019, and total sales are ahead of 2019’s record pace, which was up 8.4% from 2018.

“COVID-19 has presented tremendous challenges to all aspects of our economy, but Brunswick County’s real estate market has proved immune to its effects thus far” said Cynthia Walsh, BCAR CEO, “The fact that our market is ahead of last year’s record pace in spite of the coronavirus is a testament to everything Brunswick County has to offer. While the decrease in new listings could foreshadow a future impact, we still have a healthy inventory of active listings, and several homes sold for more than $1 million in April.”

Total sales volume jumped 20.5% in April compared to last year, rising from $110,040,000 to $132,630,000. Average sale prices rose 12.7%, from $292,651 to $329,935, while units sold increased 6.9%, from 376 to 402. The number of new listings decreased from 653 to 384, a 41.2% drop. The absorption rate, which is the amount of time it would take to sell the current inventory of homes, is 4.5 months.

Brunswick County

New Listings

April 2020: 384
April 2019: 653
Increase/Decrease: -41.2%

Units Sold

April 2020: 402
April 2019: 376
Increase/Decrease: +6.9%

Average Sale Price

April 2020: $329,935
April 2019: $292,651
Increase/Decrease: +12.7%

Total Sales Volume

April 2020: $132,630,000
April 2019: $110,040,000
Increase/Decrease: +20.5%

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