June marks 13-year high for housing sales in Cape Fear region

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Despite signs that showed that home sales could slow across the Cape Fear region, Cape Fear Realtors reported record housing sales numbers for the month of June in New Hanover, Brunswick and Pender counties.

“We are continuing to see a very robust market across the Cape Fear area. Sales hit new historic high levels as supply remain low and home prices continue to climb,” said Fred Gainey, Cape Fear Relators president.

As a whole, the area experienced a 13-year high in June, recording 1,263 properties sold. The average sales price was $302, 317, an increase of 7.4 percent increase over last June and up 7.7 percent this year. Monthly supply across the region dropped 21.2 percent, to a 4.1 month supply, in comparison to the same month last year, according to the association.

New Hanover County experienced a 4 percent uptick in sales, recording another 13-year high of 573 properties. Homes continue to sell fast, with days on the market at a low of 21 days. Supply dropped 17.1 percent to 3.4 months in comparison to June 2017. Average sales price in New Hanover increased 9.3 percent to $329,197.

Brunswick County sales increased 2.1% over last June last year with an average sales price of $276,883, an increase of 8.7 percent. Total sales in June recorded a 14.6 percent uptick, a year-to-date and new all-time high. Properties averaged 41 days on the market, down from 59 days last June. Supply dropped 24.2 percent from last year to 4.7 months.

Pender County sales dropped 13.3 percent in comparison to last year with 156 properties sold, however year-to-date sales are up 3.4 percent. Average sales price increased 8.7 percent over last June at $276,883. Supply was down 20.5 percent at 4.3 months, Cape Fear Realtors said.

 

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