Last month sales New Hanover County
Sales in November fell 12% compared to November 2023, the second biggest drop of the year. Just 254 homes were sold, the lowest November dating back to 2013.

Year to date, sales are down about 2%, the lowest it has been since 2014.

Sales have been down consistently since 2021.

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--------
After reaching record heights in September, prices have fallen the last two months. In September the average price per square foot of a sold home hit a record high of $326, in October it fell back to $303, and in November it fell to $291. The average price of a sold home fell from $646k in September to just over $600k in October, and then fell again to just under $588k in November. Still way up from same time in 2023.

Year to date prices are up a staggering 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 43% to 47 days.

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 eighth straight months of increasing inventory, the number of homes on the market fell in December to under 1000. It is not uncommon for inventory to drop off in December and January, and the 992 active homes is up 18% compared to same time last year.

Inventory is steadily increasing, but still way below historic levels. 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 ----------
There were 23 homes sold for over a million last month, which is about average for a month but that's 10 more than sold for over a million in November 2023.

Year to date, high dollar sales have already set a record at 323, which is up 24% from last year.

The top sale for the month was a $11.9 million sale on Figure 8, the number 4 sale of all time in New Hanover County.

See the top listings in New Hanover County here

There have been over 40 sales of over $5 million in the history of the MLS. There have also been over 20 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.