Most recent median home sales in New Hanover County show increase

Newly released data for August shows that potential buyers and sellers in New Hanover County saw houses sell for higher than the previous month’s median sale price of $390,000.
The median home sold for $405,000, an analysis of data from Realtor.com shows. That means August, the most recent month for which figures are available, was up 3.8% from July.
Compared to August 2022, the median home sale price was up 2.5% at $405,000 compared to $395,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.starnewsonline.com.
Looking only at single-family homes, the $419,500 median selling price in New Hanover County was up 2.1% in August from $411,000 the month prior. Since August 2022, the sale price of single-family homes was up 1.1% from a median of $415,000.
Five condominiums or townhouses sold for $1 million or more during the month, compared to 54 recorded transactions of at least $1 million in August 2022.
Condominiums and townhomes increased by 14.3% in sales price this August to a median of $365,750 from $320,000 in July. Compared to August 2022, the sale price of condominiums and townhomes was up 14.3% from $320,000. Two homes sold for $1 million or more during the month, compared to 21 recorded transactions of at least $1 million in August 2022.
In August, the number of recorded sales in New Hanover County dropped by 79.6% since August 2022 from 665 to 136. All residential home sales totaled to $63.4 million.
In North Carolina, homes sold at a median of $320,000 this August, down 1.5% from $325,000 in July. There were 6,133 recorded sales across the state this August, down 67.2% from 18,702 recorded sales in August 2022.
The total value of recorded residential home sales in North Carolina decreased by 41.1% from $6.5 billion in July to $3.8 billion this August.
Out of all residential home sales in North Carolina, 8.25% of homes sold for at least $1 million in August, up from 5.54% in August 2022.
Sale prices of single-family homes across North Carolina decreased by 3.6% from a median of $326,687 in July to $315,000 in August. Since August 2022, the sale price of single-family homes across the state was down 1.3% from $319,086.
Across the state, the sale price of condominiums and townhomes rose 8.1% from a median of $316,250 in July to $342,000 this August. The median sale price of condominiums and townhomes is up 10.3% from the median of $310,000 in August 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
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