Date Archives: January 2023

Southport is a hidden gem that's full of Southern charm, quaint shops, seaside restaurants, historical museums, beautiful architecture, and breathtaking views. If you're planning to visit this lovely coastal town, our real estate agents have some great suggestions for local sights and activities that you do not want to miss.

Shop for Treasures

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OAK ISLAND, NC – Margaret Rudd & Associates, Inc., REALTORS® (MRA) is pleased to announce that BJ Ellender, Broker/REALTOR®, C2EX, RENE, AHWD®, VABA and member of the Brunswick County Association of REALTORS® was recently inducted into the Marquis Who's Who® Biographical Registry. According to Marquis Who's Who®, this prestigious recognition is given to individuals who boast noteworthy achievements and prominence in their field or industry. 

As a valuable member of the Margaret Rudd & Associates, Inc., REALTORS® real estate sales team, Ms. Ellender has worked to assist property owners and their families in the complex and often difficult process of buying and selling real estate. Among her numerous accomplishments, Ms. Ellender was named to the Top 300 Producers list of Brunswick County Real Producers for the years 2020 to 2022 and was included as a featured agent in the September 2022 issue of Agent Magazine. She remains committed to consistent professionalism and expertise in her field, receiving the designation of Real Estate Negotiation Expert (RENE) and completing the programs of Commitment to Excellence (C2EX) and At Home with Diversity (AHWD®), all from the National Association of REALTORS®. 

Prior to joining Margaret Rudd & Associates, Inc., REALTORS® in 2016, Ms. Ellender served as a nurse in critical care and clinical research for 44 years. She graduated with a Bachelor's of Science in Nursing from the University of North Carolina at Charlotte where she went on to receive her Master's of Science in Nursing. Ms. Ellender now enjoys spending time with her husband, three sons, and her grandchildren. She is an active member of the local Moose Lodge and Ocean View Methodist Church council and contributes her time, energy, and resources to various community outreach projects. 

About Margaret Rudd & Associates, Inc., REALTORS® Margaret Rudd & Associates, Inc., REALTORS® (MRA) is a second-generation, family-run business offering a full range of real estate services including sales, property management, vacation rentals, development, land sales, commercial properties, relocation services, and long term rentals. With a reputation for exceptional customer service and dedication to strong professional ethics and integrity, MRA is the most respected full-service firm in Brunswick County with three offices to service your property management and real estate needs. Interested parties or those looking for real estate assistance may visit www.margaretrudd.com and/or www.rudd.com to learn more about the real estate sales and property management services the company offers its clientele.

SHALLOTTE, N.C. — Brunswick County Association of REALTORS®

After an extended period of rapid sales coupled with an extremely low inventory, Brunswick County's residential real estate market closed out 2022 with more typical numbers. The number of homes sold and total sales volume both decreased, average sales prices were higher, and homes spent slightly less time on the market compared to 2021.

"After an insane couple of years, our market inched closer and closer to normalcy throughout 2022," said Cynthia Walsh, BCAR CEO. "Thanks to continued strong demand and limited inventory, average sales prices increased throughout the year. While total sales volume is slightly down, it's important to remember that we saw historic, unprecedented numbers in 2020 and 2021. While last year's numbers may be lower than prior years, overall our market is in strong shape going into 2023."

Total sales volume decreased from $2,704,199,429 in 2021 to $2,527,930,000 in 2022. Average sales prices for the year were up 10.5% compared to 2021, jumping from $398,772 to $440,574. Homes spent an average of 30 days on the market in 2022, compared to 39 days in 2021. New listings were down 11%, from 7,157 to 6,373, and the number of units sold dropped 18%, from 6,779 to 5,556.

When it comes to December's numbers, new listings, units sold and total sales volume decreased compared to last year. To put the numbers into context, December 2022 saw more homes sold than any other December in the past 17 years apart from 2020 and 2021.

Total sales volume decreased 25.9% compared to December 2021, from $243,100,000 to $180,100,000, while average sales prices were up 1.4%, from $439,610 to $445,799. Luxury homes may have been the holiday gift of the season, with 17 transactions in excess of $1 million and three in excess of $2 million. On the opposite end of the spectrum, there were more than 50 sales below $250,000 in December. Overall, homes are still selling for roughly 97% of their list price.

New listings were down 11.7% in December, from 368 to 325, and the number of units sold dropped 26.9%, from 553 to 404. Homes spent an average of 41 days on the market in December, up from 32 days. The absorption rate, which is the amount of time it would take to sell all available inventory, decreased to less than 2.5 months in December 2022.

Brunswick County

New Listings

• December 2022: 324
• December 2021: 368
• Increase/Decrease: -11.7%

Units Sold

• December 2022: 404
• December 2021: 553
• Increase/Decrease: -26.9%

Average Sales Price

• December 2022: $445,799
• December 2021: $439,610
• Increase/Decrease: +1.4%

Median Sales Price

• December 2022: $359,900
• December 2021: $359,000
• Increase/Decrease: +0.3%

Total Sales Volume

• December 2022: $180,100,000
• December 2021: $243,100,000
• Increase/Decrease: -25.9%

Bladen County

New Listings

• December 2022: 10
• December 2021: 11
• Increase/Decrease: -9.1%

Units Sold

• December 2022: 11
• December 2021: 7
• Increase/Decrease: +57.1%

Average Sales Price

• December 2022: $177,341
• December 2021: $265,000
• Increase/Decrease: -33.1%

Total Sales Volume

• December 2022: $1,950,000
• December 2021: $2,050,000
• Increase/Decrease: -4.9%

Columbus County

New Listings

• December 2022: 17
• December 2021: 18
• Increase/Decrease: -5.6%

Units Sold

• December 2022: 10
• December 2021: 27
• Increase/Decrease: -63%

Average Sales Price

• December 2022: $216,250
• December 2021: $192,142
• Increase/Decrease: +12.5%

Total Sales Volume

• December 2022: $2,160,000
• December 2021: $5,190,000
• Increase/Decrease: -58.4%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members.  For more information, please visit http://www.bcarnc.com.

Last year's real estate market with rising mortgage rates made home ownership difficult for first-time buyers. As we head into 2023, our real estate agents have some tips for first-time buyers to make getting into a new home much easier. If you're planning to buy a home this year, pay close attention to these 6 valuable tips that will ensure success.

1. Maintain Good Credit
   If you're planning to look for Southport homes for sale, it's not the time to apply for a new credit card, line of credit, or personal loan. When you apply for a mortgage loan, the first thing lenders do is pull your credit report to check your credit score, payment history, late payments, and debt-to-income ratio. Any applications for new credit can have a negative impact on your loan approval. This is the time to pay your bills on time and avoid adding any more debt.

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Our real estate agents are often asked what they love most about life in Southport, North Carolina. And with a new year upon us, now feels like a good time to take stock of just why we think Southport is such a special place.

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