Welcome to my monthly real estate newsletter
Greetings! I put out this free emailed newsletter once a month to keep people up to date on the local real estate market. My data focuses on the sales and inventory of homes in New Hanover County, with additional numbers on the region our MLS covers.
To see the full review of real estate sales in the region for 2025, click here.
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| There continues to be signs that the market is slowing, in 2025, the number of homes sold and the average price were up just 3%. But low inventory continues to keep prices moving up. |
Last month sales New Hanover County
Home sales have been doing the yoyo thing this year, down in January, up in February-March, and then down in April. April sales were down 7% from last year. Year to date sales are down 1% from last year.
For the year 2025, sales were up 3%. For the year 2024, sales ended up down 1% from 2023. For the year 2023, home sales finished 19% off compared to 2022. Home sales in 2024 were the lowest since 2014.
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Last month prices New Hanover County--------
Prices continue the upward trend that just won't stop. Both the average sales price and average sales price per square foot were both up 3% over last year. Year to date the average sales price of $643k is up 3% from same period last year, and the average price per square foot of $314 was up 2% from same time last year.
The average price for sold homes in New Hanover County in 2025 was around $613k and $307 per sq ft. In 2024 it was around 597k and $302 per sq ft. The median sale price in 2025 was $462k, in 2024 it was 452k.
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Current Inventory ----------
Inventory was up for the third straight month, the 1221 homes for sale in New Hanover County was up 3% from last month and 2% from last year.
For the year 2025, the average inventory was 1108, compared to 897 in 2024. The average for 2023 was 583, the average for 2022 was 432. So there is clearly an upward trend.
Looking back, inventory in the summer of 2022 was around 500; inventory in 2015 was around 2100; and summer inventory in 2010 was around 3400.
The highest average inventory (since I started looking at it in 2008) was in 2008, when the average was over 3500 homes for sale.
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High Dollar Properties ----------
Home sales might be down, but the number of homes selling for over a million continue to be up. Last month there were 45 homes sold for over $1 million, and year to date we are up 20%.
The top sale for the month was a $7.9 million sale at Wrightsville Beach.
See the top listings in New Hanover County here
There have been 11 sales over $10 million in the history of the mls. There have been over 60 sales of over $5 million. Out of the top 20 highest sales, only six happened prior to 2024.
See the top home sales in the HISTORY of New Hanover County here. |
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