Is New Hanover County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Hanover County is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, New Hanover County was a Seller's Market.

Key Takeaway

New Hanover County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in New Hanover County, NC

How much do homes in New Hanover County, NC cost?

Median Sold Price

$450,638

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,262(+7.2%)

Key Takeaway

Homes in New Hanover County have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in New Hanover County was $450,638 in November 2024, up 7.2% from last year, and the median price per square foot was $253.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $369K$350K
-5.1%
2 $290K$299.8K
+3.4%
3 $390K$411K
+5.4%
4 $572.8K$613.4K
+7.1%
5+ $734.5K$792.5K
+7.9%

Summary: New Hanover County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 7.9%.

Median Sold Price Compared To Nearby Counties

New Hanover County
+7.2%
Brunswick County
+1.4%
Pender County
0.0%

Housing Supply in New Hanover County, NC

How many homes are available in New Hanover County, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,6551,600-3.3%

Summary: The New Hanover County real estate market had 1,600 homes for sale in November 2024, a 3.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 6571
+9.2%
2 252255
+1.2%
3 751706
-6.0%
4 438419
-4.3%
5+ 149149
0.0%

Summary: The New Hanover County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
330242-26.7%

Asking Price vs. Sold Price

152 Homes Were Sold
Under Asking

50 Homes Were Sold
At Asking

40 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Hanover County, you may be able to get a good deal. 62.8% of homes here sold below asking price last month.

Summary: A total of 242 homes were sold or pending in New Hanover County in November 2024, down by 26.7% month-over-month. Of the 242 sold homes, 63% were sold under asking, 21% were sold at asking, and 17% were sold over asking.

Days on Market for New Hanover County, NC

How long does it take to sell a home in New Hanover County, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
31 Days56 Days+81.5%

Summary: Homes in New Hanover County had an average of 56 days on market in Nov 2024, up by 81.5% compared to last year.

Breakdown of Home Sale Times

120 Homes Were Sold
Under 30 Days

77 Homes Were Sold
In 30 - 90 Days

45 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Hanover County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 242 homes were sold in New Hanover County; 50% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in New Hanover County, NC

Nearby Markets to New Hanover County, NC

What housing markets are near New Hanover County, NC?