Is New Hanover County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Hanover County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, New Hanover County has remained a Seller's Market.

Key Takeaway

New Hanover County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Hanover County, NC

How much do homes in New Hanover County, NC cost?

Median Sold Price

$425,273

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$23,577(+5.9%)

Key Takeaway

Homes in New Hanover County have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in New Hanover County was $425,273 in March 2024, up 5.9% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $339K$369.5K
+9.0%
2 $273.6K$296K
+8.2%
3 $365.1K$394.6K
+8.1%
4 $540.3K$592.9K
+9.7%
5+ $717.5K$807K
+12.5%

Summary: New Hanover County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Counties

Pender County
+7.4%
Brunswick County
+7.2%
New Hanover County
+5.9%

Housing Supply in New Hanover County, NC

How many homes are available in New Hanover County, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,3431,443+7.4%

Summary: The New Hanover County real estate market had 1,443 homes for sale in March 2024, a 7.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 6064
+6.7%
2 213238
+11.7%
3 610655
+7.4%
4 333347
+4.2%
5+ 127139
+9.4%

Summary: The New Hanover County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 9.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
270315+16.7%

Asking Price vs. Sold Price

190 Homes Were Sold
Under Asking

66 Homes Were Sold
At Asking

59 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Hanover County, you may be able to get a good deal. 60.3% of homes here sold below asking price last month.

Summary: A total of 315 homes were sold or pending in New Hanover County in March 2024, up by 16.7% month-over-month. Of the 315 sold homes, 60% were sold under asking, 21% were sold at asking, and 19% were sold over asking.

Days on Market for New Hanover County, NC

How long does it take to sell a home in New Hanover County, NC?

Average Sale Time

Mar 2023Mar 2024CHANGE
35 Days47 Days+31.4%

Summary: Homes in New Hanover County had an average of 47 days on market in Mar 2024, up by 31.4% compared to last year.

Breakdown of Home Sale Times

189 Homes Were Sold
Under 30 Days

71 Homes Were Sold
In 30 - 90 Days

55 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Hanover County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 315 homes were sold in New Hanover County; 60% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in New Hanover County, NC

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