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.
Click on the links at left to review the activity over the past years, plus detail on what sold last year.
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| Facts about the Neighborhood |
1500+ residential homesites in the Neighborhood
Average bedrooms: 3.83
Average Sq Ft: 3681
Average lot size: .46
Average Tax Assessed value: $687,500
Undeveloped lots: 340
Oldest house in neighborhood: 1986
150 houses built in the 80s
560 homes built in the 90s
457 houses built 2000- 2010
Square footage ranges from 1469 sq ft - over 12000
Tax Assessed values range from 258 - over $4 million |
| This is the study area |
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