First Quarter 2009

Rebound here we come! The Wilmington, NC real estate market  first quarter 2009 pending home sales is up 44.2% over December 31, 2008. The average sales price is showing a decrease of 8.4% from 2008, but only .3% decrease from 2005.

The list to sale ratio for 2009 first quarter is 93.7%, compared to 2008 at 95.5%. The number of homes sold in 2009 was down 22.7% from 4th quarter 2008.

28403 Zip Code First Quarter 2009

Average Sales price  $207,689 decrease 15.3%

Average List Price $220,562 decrease of 16.5%

Average days on market was 164 days

List to selling price ratio 94.2% versus 92.7% year end 2008

28405 Zip Code First Quarter 2009

Average Sales Price $314,492 Increase of 6.1%

Average List Price $337,025 Increase 8.6% from 2008

Average Days on Market was 179

List to selling ratio 93.3% versus 95.5 year end 2008

28409 Zip Code First Quarter 2009

Average Sales Price $275,381 Decrease of 13.8%

Average List Price $298,046 Decrease of 11.5%

Average Days on Market was 136

List to selling ratio 92.4% versus 94.9% year end

28411 Zip Code First Quarter 2009

Average Sales Price $267,408 Decrease 15.8%

Average List Price $285,033 Decrease 13.8%

Average Days on Market 115

List to Selling ratio 93.8% versus 96%

28412 Zip Code First Quarter 2009

Average Sales Price $194,261 Decrease 8.4%

Average Listing Price $204,056 Decrease 7.1%

Average Days on Market 150

List to selling ratio 95.2% versus 96.5% year end

The 28405 had a nice increase for 2009 in first quarter. We should be in store for a good market in 2009 as inventories are still plentiful and interest rates are at historic lows.

Contact us now to begin your home search or go to www.cbbaker.com.