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.