Housing trends in Cape Fear continue to decline, though prices remain up

Nearly every home goes under contract when it hits the market, according to 2021 Cape Fear Realtors president Tom Gale, though sales are down 12.4% in the tri-county region from September 2020 to 2021. (Port City Daily/File)

SOUTHEASTERN N.C. — After a heated year for the real estate market, the Cape Fear region continues to experience a cool-down as first reported in August. Data shows an overall slump in inventory, decrease in number of closed sales and decline in first-time homebuyers. Yet, median sales prices remain higher year over year.

According to a press release from the Cape Fear Realtors (CFR), pending sales across the tri-county region — New Hanover, Brunswick and Pender — are down 12.4% for September 2021 versus September 2020, and the number of first-time homebuyers declined to 29%. According to the National Association of Realtors, this is the lowest level of first-time homebuyers in years, as bidding wars and lack of…

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