Is New Hanover County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $339K | $369.5K | +9.0% |
| 2 Bedrooms | $273.6K | $296K | +8.2% |
| 3 Bedrooms | $365.1K | $394.6K | +8.1% |
| 4 Bedrooms | $540.3K | $592.9K | +9.7% |
| 5+ Bedrooms | $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 | $400.1K | $429.9K | +7.4% |
| Brunswick County | $391.7K | $420.1K | +7.2% |
| New Hanover County | $401.6K | $425.2K | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,343 | 1,443 | +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
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 60 | 64 | +6.7% |
| 2 Bedrooms | 213 | 238 | +11.7% |
| 3 Bedrooms | 610 | 655 | +7.4% |
| 4 Bedrooms | 333 | 347 | +4.2% |
| 5+ Bedrooms | 127 | 139 | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 270 | 315 | +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
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 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 47 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
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.
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