New Hanover County Outlook

Home sales have been down the past two years in New Hanover County, falling 4% in 2021 and 21% in 2022. Part of the drop was due to lack of inventory, but in the latter half of 2022, demand did seem to slow.

Prices have not yet reacted to the lower demand however, they seem to continue to climb. Average sales prices in the county went up 18% in 2022. Later in the year there were some signs of leveling, but at this point prices are still at record highs.

There doesn't seem to be any shortage of buyers, it appears that our area is a popular post pandemic location. Inventory remains low, so steady demand will mean prices will continue to rise.

There are clearly signs that we are moving away from a heavily slanted seller's market, and more towards a more even market.

Buyers are definitely still looking in the neighborhood. Your neighborhood is one of my favorite neighborhoods to recommend, because it has such historic charm and great neighborhood feel.

Click on the links at left to review the activity over the past five years, plus what sold last year and what's active now.

Also, we have had conversations with buyers who are interested in the neighborhood, so if you are considering selling please let us know. If you or someone you know is looking to buy, we'd be thrilled to help them as well.

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