Wilmington NC Real Estate

It looks as though move up buyers have been sitting on the sidelines and contributing to lower sale prices in the second quarter in Wilmington NC. If you compare the second quarter to 2007 second quarter, sales prices have decreased by 6.1%. The list to sell ratio has also decreased to 95.5% compared to 97.4% second quarter 2007.

Homes sales did rise in July from June, even though many buyers are playing the sit and wait game. Homes sales in July were 507 compared to 441 in June, according to data from the Wilmington Association of Realtors. Compared to July 2007, that is still 17.5% lower, when 618 homes were sold. Our strongest market segment continues to be homes lower than $300,000. The average price of homes sold in July was $247,867 compared to July 2007 $274,832. After the run up in sales in 2004-2005, we see our market settling down to levels of 2002 and 2003, even though sale prices have increased tremendously since then, from $169,357 in July 2002-$247,867 in July 2008.

Obviously, the time to buy Wilmington, NC real estate is now. Prices are really attractive and interest rates are still low. Home buyers can choose from a nice inventory of homes for sale in many neighborhoods in the Wilmington, NC area. Why not take advantage of these market conditions before they rise again? Check out all homes for sale in Wilmington, NC by neighborhood, zip code, city, schools or by map at cbbaker.com .

Second Quarter Report by Zip Code
Zip Codes Avg. Sales Price 2008 2007 Avg. List Price 2008 2007 Sold to List 2008 2007 DOM 2008 2007
28403 $248,657 $248,171 $268,507 $257,338 92.60% 96.40% 100 Days 82 Days
28405 $270,606 $351,466 $281,270 $366,588 96.20% 95.80% 110 Days 102 Days
29409 $305,916 $325,071 $318,970 $337,633 95.90% 96.20% 110 Days 93 Days
28411 $377,202 $321,934 $396,446 $331,342 95.10% 97.10% 107 Days 91 Days
28412 $219,036 $234,517 $226,529 $240,156 96.60% 97.60% 112 Days 86 Days