New Hanover County Outlook
Home sales have been down the past two years in New Hanover County, falling 4% in 2021 and 21% in 2022. Part of the drop was due to lack of inventory, but in the latter half of 2022, demand did seem to slow.
Prices have not yet reacted to the lower demand however, they seem to continue to climb. Average sales prices in the county went up 18% in 2022. Later in the year there were some signs of leveling, but at this point prices are still at record highs.
There doesn't seem to be any shortage of buyers, it appears that our area is a popular post pandemic location. Inventory remains low, so steady demand will mean prices will continue to rise.
There are clearly signs that we are moving away from a heavily slanted seller's market, and more towards a more even market.
Buyers are definitely still looking in the neighborhood. Your neighborhood is one of my favorite neighborhoods to recommend, because it has such historic charm and great neighborhood feel.
Click on the links at left to review the activity over the past five years, plus what sold last year and what's active now.
Also, we have had conversations with buyers who are interested in the neighborhood, so if you are considering selling please let us know. If you or someone you know is looking to buy, we'd be thrilled to help them as well.
Get our free monthly newsletter, featuring stats on what sold and what is currently active on the local real estate market. Just send me an email request!
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Neighborhood facts and stats |
234 homes in the neighborhood
113 in forest hills
121 in beaumont
also a park, restaurant, church, school
32 non owner occupied
Five Oldest Homes
314 Forest Hills Dr, built in 1920
2611 Columbia Ave, built in 1920
206 Forest Hills Dr, built in 1921
12 Colonial Dr, built in 1925
102 Forest Hills Dr, built in 1925
17 homes built prior to 1930
54 homes built prior to 1940
125 homes built prior to 1950
204 homes built prior to 1960
Lot ranges from .20 to 3 acres
Sq ft range from 792 sq ft - 6114 sq ft
Tax values range from $64,600 - $739,900
Sold homes in past ten years range from $46,000 - $950,000
Averages
Average lot is .53 acres
Average year built is 1949
Average sq ft is 2500
Average tax assessed value $323,521 |
This is the study area |
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Get my free monthly newsletter, featuring stats on what sold and what is currently active on the local real estate market. Just send me an email request! |
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