Last month sales New Hanover County

For the THIRD straight month, sales surpassed same month last year. Sales in March 2024 were up 1% from March 2023. Sales had been down from the same month previous year every month from May 2021 - Dec. 2023, so maybe this is a rebound year.
The 353 homes sold in New Hanover County is the highest month this year. Year to date sales are up 4%.

For the year in 2023 home sales finished 19% off compared to last year. Home sales in 2023 were the lowest since 2014.

For the year in 2022, sales were down 20% compared to 2021.

Last month Prices New Hanover County--------

Prices continue to stay high. The average price of a sold home in March was just over 598k, a 9% increase over same month last year. The average price per sq ft was also up, by 4% to $294. Year to date prices are up 12%, price per square foot is up 6%.

Days on market has increased quite a bit this year, year to date that number is up 37% to 51.

The average price for sold homes in New Hanover County in 2023 was around 542k and $284 per sq ft, which was up around 8% from 2022.

Current Inventory ----------

After falling slightly in March, inventory bounced back up again in April. The 770 homes was up 4% from last month, and up 72% from same time last year. The numbers are getting better, but still way below the past. Six years ago inventory was almost twice that number, twelve years ago inventory was about three times that number.

The average inventory for 2021 was 458.

The average inventory for 2020 was just over 1000.

The highest average inventory (since I started looking at it in 2008) was in 2008, when the average was over 3500 homes for sale.

High Dollar Properties ----------
The pace of million sales bounced up strongly in March. There were 32 sales of over $1 million in March 2024, compared to 23 last March. Year to date, high dollar sales are up 38%.

The top sale for the month was a $9.2 million house(s) in Kure Beach. It was a package deal for a two house complex, but it was the highest recorded sale ever for Carolina/Kure Beach, and landed on number 8 all time for the county.

See the top listings in New Hanover County here

There have been nearly 40 sales of over $5 million in the history of the MLS. There have also been 14 sales of over $6 million. Nearly all of those sales happened in the past few years.

See the top home sales in the HISTORY of New Hanover County here