New Hanover County Market Update | March 2024

New Hanover County Market Update | March 2024

  • Samantha Benford
  • 04/21/24



In March 2024, active listings in the Wilmington Metropolitan Statistical Area (MSA) hit levels similar to those seen in August 2020, with Brunswick County leading with 1,646 listings, followed by New Hanover County with 825, and Pender County with 344. This totaled 2,815 active listings for the area. New listings rose to 1,424, and pending sales increased to 1,196, indicating positive signs for an inventory-limited area and continued interest in the Cape Fear Region, despite a decrease in pending sales in New Hanover County.

Compared to March 2023, March 2024 saw a 34.8 percent increase in active listings and a 17.7 percent increase in new listings. However, the median sales price decreased by 1.7 percent to $390,000 for the Wilmington MSA. While it remains a seller's market, the three-county area's supply increased by 33.7 percent to 2.82 months.

The average Cumulative Days on Market increased by 18.9 percent to 63 days, reflecting a shift from previous lows. A REALTOR® member can help navigate these market dynamics. Closed sales for the Wilmington MSA remained relatively stable, with a slight year-over-year increase of 0.8 percent and a notable month-over-month increase of 39.1 percent, ending with 997 closed sales in March 2024.


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