OK. It's the end of January and I'm just as curious as you are as to how things are starting out in the real estate market in Brunswick County. There are so many types of searches at my finger tips, I have to decide what is the best barometer. I'm not looking at SOLDs because anything sold in January, went under contract sometime last year, so they don't reflect this year's activity. First off I searched all of Brunswick County to see how many single-family site-built homes went under contract, either 'active contingent' or 'pending'. As of today, there were 55, county-wide. Next I decided to narrow down the listings to "my area" of the county , which in essence are the areas I know the best and work the hardest. That area is eastern Brunswick County, which includes the towns and communities of Southport, Oak Island, Caswell Beach, St. James Plantation, Sunset Harbor, River Run Plantation, Sea Watch, Winding River, River Sea, Lockwood Folly, Supply, Bolivia, Town Creek, Winnabow, Mill Creek, Orton, and Boiling Spring Lakes.
That's a big area, and about half of Brunswick County. So I refined my search, this time to the areas mentioned and there were 34 results. In looking closely at these, here's what I've come up with:
Arbor Creek near Southport - 1 PENDING listed at 318,000
Bald Head Island - 3 PENDING - a Villa listed for 675,000, a cottage at the marina - 1,100,000, and a foreclosure for 399,000. (a beachfront home with erosion issues)
Beaver Creek Plantation - 1 ACTIVE CONTINGENT listed at 799,000
Boiling Spring Lakes - 6 PENDING or ACTIVE CONTINGENT all listed under 190,000
Harbor Oaks in Southport - 1 PENDING listed at 307,000
Lockwood Folly - 1 ACTIVE CONTINGENT listed at 589,900
Oak Island - 12 PENDING or ACTIVE CONTINGENT listed between 119,900 and 649,000 with 8 under 250,000.
River Sea - 1 PENDING - listed at 239,900
Southport - 4 PENDING - none Downtown - all listed under $200,000
St. James Plantation - 4 PENDING - 1 in Sanderling listed at 335,000, 2 in the Members Club section - at 474,000 and 579,900, and 1 near the marina at 589,000
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So what to gather from this? There are still buyers out there! The majority listed here are the category of "affordable housing" which makes sense because first-time home buyers still have numerous options available to them in qualifying for a loan. There were 4 in the 300's, 3 in the 400's, and 5 homes above 500K. That leaves 22 ranging in price from 119-299K, with the majority of those near or just below 200K.
Banks are still loaning to those with good credit scores. I had been saying credit scores of 725 and up but now I'm hearing it's closer to 750. Either way, you'll be amazed at the value you'll see when you start looking around at available properties. It is truly a unique opportunity for those either able to borrow, or the lucky ones that can negotiate a cash deal.
And finally, out of curiosity, I looked at residential lots that have gone under contract this month. Wow, a very small number ... only 6. Two in Boiling Spring Lakes, one out in the country in Winnabow at 29,000, one in Winding River at 115,000, and 2 on Oak Island...one an interior lot for 90,000, and one on Yacht Dr. for 145K
If you're interested in what's happening in the real estate market here, I'll be happy to provide you with all sorts of information. And I'd be especially happy to show you any available properties. Feel free to look yourself using my no sign-in Brunswick County MLS search. Understand that a Buyer's Agent can show you the entire market and represent your best interest at all times, without the conflict of interest that can arise when you call the Listing Agent, who represents the Seller. I think you'll be excited to see the value in the market. I get excited every time I'm out. Come see for yourself!
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