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Boom! Update on the Wilmington NC real estate Market and Homes Sold

Most of Wilmington NC Real Estate Booming in 2012

I wrote few months ago that I was seeing the variables line up signaling that the Wilmington real estate market had turned a corner and was now in recovery.  As you can see list prices are up which usually coincide with higher homes values as the sold price as a % of list price staying is holding steady at 95-96%.

List Prices up 11% for Wilmington Homes for Sale

 

 

and Sold prices are up 8.5% past 15 months for single family houses.

 

Probably that is this year’s “boom” and things may stay flat rest of the year as the # of homes under contract is down after some crazy huge #s of transactions/# of homes sold.  But I anticpate another “boom” next year with prices going up again.

Big message–don’t wait another 1-3 years to buy! Waste of $$$$

45% more homes sold than 15 months ago and 25% more homes than 1 year ago.  These numbers are sick (modern day lingo for “fantastic”/”amazing”/etc.).

 

 

Inventory Down Sharply for Wilmington Homes for Sale

 

Red is the 22403 zip code see map      below  .  As you can see inventory is down throughout the market.

 

Mano a Mano — Wilmington NC Zip Code Against Zip Code

 

 

 

 

 

 

Landfall homes for sale are found in 28405.

Masonboro (forest) homes are in 20409.

The Porters Neck market is 28411.
Jay Seville

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