Highlights from the April 2022 Brunswick County local housing and real estate market update:
• Home, Condominium and Town-home inventories are still low!
• Closed home sales and pending home sales have decreased from last month
• The average “Days on Market” has also decreased to only 23 days on market
• Brunswick County, NC home prices also saw a slight increase!
Let’s Dive In!
While many people are skeptical about the current real estate market and where it’s heading, we have some insights to share with you.
Brunswick County, NC April 2022 real estate market statistics are in! Spring is here and in the real estate market spring this is known as “Listing Season”. All real estate numbers we measure are beginning to level out! Local home prices are increasing, just not as much as expected. We are still in a sellers’ market, but not in the “name your price” market we had before.
Homes are now staying on the market for a shorter period of time before going under contract and we have less inventory coming on the market. How long this low inventory will last is the big question. In some cases homes are staying on the market for no more than twenty-four hours, and in other cases home last more than 30 to 45 days on the market.
So what is causing this real estate trend in the Southport and Oak Island real estate market?
Indicators that are potentially causing this are the economy, threat of war, interest rates, inflation, fuel prices or a combination! Either way there will always be a need for people to buy and sell real estate regardless of what is going on in the world!
Our recommendation is if you are ready to buy or sell, the time is now!
You can always sell or buy too early but waiting until it’s too late may hurt!
Southport Oak Island Realty Group, your local realtor, is here to help you and guide you through this tough real estate market and make the best of 2022!
