Last month sales New Hanover County
Sales in December were higher than expected, the 347 sales was the highest month since August, and up 22% over last year.

For the year 2024, sales ended up down 1% from last year.

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.

Last month Prices New Hanover County--------
After reaching record heights in September, prices have fallen the last four months. In September the average sales price hit $646k, in December that number fell to $566k. The average price per square foot has also fallen, it was $326 in September and $300 in December.

For the year, the average sales price in 2024 was around $597k, up 10% from last year. The average price per square foot of a sold home was up 6% to $302.

Days on market has increased quite a bit this year, year to date that number is up 45% to 48 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, and it went even lower in January, to 847. It is not uncommon for inventory to drop off in December and January, and the 847 active homes is up 13% compared to same time last year.

Inventory is generally on the rise, 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.

Average inventory in 2024 was 897, the average for 2023 was 583, the average for 2022 was 432.

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 24 homes sold for over a million last month, which is about average for a month.

Year to date, high dollar sales set a record at 347, which is up 23% from last year.

The top sale for the month was a $7.75 million house at Landfall.

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. Out of the top 20 highest sales, half were in 2024.

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