Recent US Census Bureau data reveals what many real estate firms and agents have been experiencing first-hand, including Silver Coast Properties.
The new data from mid-2015 to mid-2016 demonstrates that Brunswick County, near Wilmington, is the fastest growing county in the state and has been since 2010. Brunswick County is considered part of the Myrtle Beach metro statistical area the Census Bureau. If Wilmington-metro included Brunswick County, Wilmington would be the 19th fastest growing metropolitan area in the nation in the past year.
The growth throughout Brunswick County and New Hanover is evidenced everywhere. New residential communities are popping up throughout the county, ghost communities from the recession have been resurrected. Commercial development is surging with new projects, both large and small. A recent conversation with a local commercial lender with First Bank was telltale. The commercial lender indicated that he was processing more loans in the first quarter than he did in all of 2016.
The real estate sales data reflects that momentum of the Brunswick and New Hanover counties and reconciles the census data. Year-over-year sales data, from January 1 to March 28, 2017, reveals a roughly 8% increase in the average sale price for single-family homes, while the number of sold single-family homes increased by nearly 22%.
With the average sales price of $252,000, Brunswick County remains surprisingly affordable.
Now is a great time to purchase real estate on the North Carolina coast. Silver Coast Properties welcomes the opportunity to assist you and your family secure a retirement home, vacation home or beach getaway.
Call us at 800-975-6024 to start a dialogue about your real estate needs and take the first step your next adventure.