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ompetition for homes in the Wilmington area has been steep for a long time, reaching a fevered pitch in the past few years. This ongoing story is playing out in home sale statistics throughout the Cape Fear region of New Hanover, Brunswick and Pender counties, as Realtors continue looking to reach sellers and buyers throughout the market and developers find ways to capitalize on the area's demand for housing.
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Residential real estate firms in the Cape Fear region continue to grow their footprints with additional office locations. For example, Coldwell Banker Sea Coast Advantage opened new offices in 2021 in Boiling Spring Lakes and St. James in Brunswick County. Another example: Nest Realty’s Wilmington branch recently opened an office in the Pender County community of Hampstead. Construction on the office, located on the second floor of the April Jones Insurance building, 15 South End Court in Hampstead Village, wrapped up in January. “Hampstead is in highdemand for people willing to trade the conveniences of living in Wilmington for a bit more space, water access and affordability,” said Ryan Crecelius, principal broker at Nest Realty in Wilmington.
Brunswick County’s residential real estate market saw fewer homes sold in January because inventory is at an all-time low, according to the county’s association of Realtors. The number of units sold in Brunswick declined 17.4% during the first month of 2022, from 465 to 384, compared to January 2021. New listings dropped nearly 30%, from 552 to 387, BCAR noted, citing statistics pulled from the N.C. Regional Multiple Listing Service. But the total sales volume last month was only down 1.5%, thanks to higher average sale prices fueled by low inventory, strong demand and strong luxury sales, according to the report. BCAR CEO Cynthia Walsh said, “Inventory is extremely low, which makes it harder for buyers to find the right home ... The market is positioned to remain in a seller’s market for the foreseeable future."
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