Higher Days on Market But Prices Rise in Brunswick Forest
This is Jay from Ocean Views Real Estate, Inc. in the Cape Fear Realtor Association of North Carolina and found on Google business directory for Leland NC homes. We’re going to look at Brunswick Forest homes today and just compare 2022 to 2023 and size it up from the perspective of a buyer and a seller. Back when we were selling homes in the Spring of 2022 it was crazy; it was surreal. And it was no fun to work in and the buyer's side of the coin and then you had the seller side of the coin where I would tell people in a listing appointment, “Well the comps on your home is we come up with the most ridiculous price we can think of, and that's your listing price.” And that's how I listed homes in the spring and summer.
So let's look at Brunswick Forest and figure out where the neighborhood is at now and see some of the striking differences in the market from the spring versus the winter of 2023. So over here as I was saying I'm just going to go to the Brunswick Forest page of the website– lots of good Market data here and insights and all the listings are down here including homes that are under contract and recently sold listings to really give you perspective on the Brunswick forest homes for sale market. And if we want we can also include the map view with it in sort of pink around on the map where we would rather be, but anyway first thing we're going to look at are the days on market.
I went back to some of the homes that were listed in April and real quick you got April and March home here that were listed and I'm going to compare them to right now. And so real quick I'm going to flip over to a completely different screen. These are listed in April of 2022 and the the view that I'm going to switch to is going to instead show us the days on the market and as you can see here those varyfrom 0, 0, 2, 19, 4 and another good old-fashioned zero. So things were selling in 0 to 2 days for the most part in Brunswick forest in the spring of 2022. And it is very challenging to work in that kind of environment. It's like throwing spaghetti against the wall in some respects.
So now let's look at Brunswick Forest today. Let’s look at homes that are active or that have been recently. So now we're in the winter homes that were recently listed and you can see from here these are listed in November. Okay so is the market the same now as it was in the spring of 2022? I’m going to switch the view to days on market and see where we are at. And instead of 0 and 2 and 0 and 4 we have this instead which is a huge difference which is a huge difference: 17, 7, 35, 32, 44. And a two right here. So these are homes are essentially many of them have been on the market 10x longer. So we are going from 3 day listings to a month long listing. Which just changes everything when you are the list side and the buy side–especially on the buy side. There is a chance to make low offers and point out that the market is changing and that inventory is increasing and there is a chance to justify lower prices. But on the list though the reality is have prices gone down? Sure it is taking longer to sell a home, but have the values gone down?
So then so let's look at that issue as well I have here a sold from the Spring 586 with 2500 square feet okay. And then recently you have a closing for 598 and 600 same square footage built in 2017, 2018 and 2019. So I've got the exact same houses here from the spring versus now and did the prices go down? No. They actually went up 1-2% again! So the values are holding strong in Brunswick Forest. But if you're on the buyer side maybe you can try and change that. It's not going to be easy though if they have a good listing agent that can just tell them to sit put because someone's going to come to the right price for us. Now does that mean the prices are going to stay the same? No. But my God tells me they're pretty solid. It’s possible they may correct 2-3%. However they may even go up another percent or two so that's what's going on there. I think that's the end of this video, but that's what we see. Days on Market has gone up a lot in Leland, but home values have not gone down. They've gone up some more since the spring so it's a very strong market in Leland. It's completely still a seller’s market so again I look forward to working with you whether you're buying or selling around here, and I'm Jay with Ocean Views Real Estate Incorporated based out of Leland NC. Will do this for Oak Island NC soon.