Last month sales New Hanover County
Sales were down for the second straight month compared to same month last year. March sales were down 8%, and are at the lowest level in 10 years. In 2021, March sales were close to double this March.

Sales have been down fairly consistently since 2021, but had been showing signs of increasing recently, before dropping back off. Year to date sales are off 6%.

For the year 2024, sales ended up down 1% from 2023. For the year in 2023 home sales finished 19% off compared to 2022. Home sales in 2024 were the lowest since 2014.

Last month Prices New Hanover County--------
After January's record high average sales price of over $668k, average numbers took a tumble in February to just over $540k, but then bounced up in March to over $638k. That number is up 7% from March 2024. The average price per square foot of a sold home was up 3% from same time last year.

I started doing the median sales figures this year to show another perspective. The median price for a sold home peaked in August at 479k, and has fallen pretty steadily, to 436k in February 2025. It bounced up in March to 467k.

The average price for sold homes in New Hanover County in 2024 was around 597k and $302 per sq ft, which was up around 10% and 6% from 2022. The median sale price in 2024 was 452k, up from 425k in 2023.

Current Inventory ----------
Inventory is on the rise, up for the fourth straight month to 1130. It is at the highest level since spring of 2020. The 1130 units for sale is up 47% compared to same time last year.

Looking back, inventory in April 2022 was just 254; inventory in 2015 was over 2000; in 2010, the inventory was over 3550.

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 31 homes sold for over a million last month, which is about 10 under average.

Last year was a banner year for $1 million plus homes, there was a record 349 sales.

The top sale for the month was a $8.6 million house on Figure 8.

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.