ERA Sand & Sea Realty

Existing home sales up again in Brunswick

By SARAH SHEW WILSON, Staff writer

The number of homes sold in Brunswick County has again increased over last year.
According to the most recent numbers from the N.C. Association of Realtors, Brunswick County Realtors sold 128 units in May 2007, compared to 172 units in May 2008, a 34 percent increase.
The average price dropped from $383,304 to $282,725, according to the report.
Grady Watkins, president of the Brunswick County Association of Realtors, said this week he attributes the increase in sales to good prices and inventory.
“We’ve got a tremendous amount of inventory buyers have to choose from, and they’re making their choices. We knew buyers would come back.
“With prices, inventory and interest rates as good as they are, it’s a perfect scenario for buyers.”
Bonnie Black of ReMax at the Beach said she sold almost $5 million last year, which was a third to a fourth of what she normally does.
“That was my worst year in like 20 years,” she said. “I hadn’t done less than $5 million since 1993.”
This year, Black already has 21 closed sales and four pending and is expecting to close 20 contracts this month.
Black says 2005 was the best year for home sales but also saw the highest prices.
“It’s probably going to take five years to get back to 2005 prices,” she said.
“Real appreciation does not happen overnight unless it was when everything was going crazy.”
According to Black, her office is selling “everything we can get our hands on” listed between $150,000 and $250,000.
“We’re turning around,” she said.

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