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

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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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