Great news for the Wilmington NC real estate market.  Just released ~

By R.J. Alex, 2013 President, Wilmington Regional Association of Realtors®

When analyzing six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451 – an average of the zip codes for the fourth quarter of 2012 shows that:

  • Our list to sales price ratio for 4th Quarter is 96.1%, an increase from 94.1% for 4th Quarter 2011.
  • The average number of days a property remained on the market for 4th Quarter was 121 days, compared to 158 days for 4th Quarter 2011.
  • The median sold price of $189,000 for 4th Quarter has increased 5.0% from 4th Quarter 2011.
  • Our average sales price has decreased by 2.8% from 4th Quarter 2011.
  • Of the 847 sellers in 4th Quarter – 30.4% paid some sort of concession toward the purchase of the house.
  • The average list price of the sold properties is $233,703 and is down 4.8% from 4th Quarter 2011.

The areas of focus in this analysis were:  

  • Selling Price – The price the seller accepts for his or her house.
  • Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
  • List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
  • Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
  • List Price – The amount of money a home is listed on the market.
  • Median Price – The middle price of all the properties sold in the given time period

4Q 2012 Zip Code Report - CHART

28403 Zip Code

  • The average selling price, of $193,951 has decreased 9.3% from 4th Quarter 2011 average selling price of $213,785.
  • 21% of sellers paid a concession, compared to 25% in 4th Quarter 2011. The best of all zip codes.
  • The average list price of $206,816 has decreased 11.0% from 4th Quarter 2011 average list price of $232,379.
  • The average number of days a property remained on the market for 4th Quarter was 161 days, compared to 181 days for 4th Quarter 2011.
  • The median sold price of $162,500 for 4th Quarter has increased 2.5% from 4th Quarter 2011.
  • Sold homes in the 4th Quarter received 93.7% of the asking price, an increase from 92.0% for 4th Quarter 2011.


28405 Zip Code

  • The average selling price, of $264,738 has decreased .01% from 4th Quarter 2011 average selling price of $264,936.
  • 26% of sellers in 4th Quarter paid a concession, compared to 22% for 4th Quarter 2011.
  • The average list price of $284,578 for 4th Quarter has decreased .09% from 4th Quarter 2011 average list price of $287,135.
  • The average number of days a property remained on the market for 4th Quarter was 130 days, compared to 182 days for 4th Quarter 2011.
  • The median sold price of $150,000 for 4th Quarter has decreased 9.1% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 93.03% of the asking price, an increase from 92.2% for 4th Quarter 2011.


28409 Zip Code

  • The average selling price, of $252,711 has decreased 4.0% from 4th Quarter 2011 average selling price of $263,235.
  • 35% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $258,589 for 4th Quarter has decreased 8.0% over 4th Quarter 2011 average list price of $281,212.
  • The average number of days a property remained on the market for 4th Quarter was 87 days, compared to 142 days for 4th Quarter 2011. The best of all zip codes.
  • The median sold price of $227,121 for 4th Quarter has decreased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 97.7% of the asking price, an increase from 93.6% from 4th Quarter 2011.


28411 Zip Code

  • The average selling price, of $262,073 has increased 3.6% from 4th Quarter 2011 average selling price of $253,001. The best of all zip codes.
  • 45% of sellers in 4th Quarter paid a concession, compared to 45% in 4th Quarter 2011.
  • The average list price of $273,299 for 4th Quarter has increased 1.6% over 4th Quarter 2011 average list price of $269,054. The best of all zip codes.
  • The average number of days a property remained on the market for 4th Quarter was 109 days, compared to 177 days for 4th Quarter 2011.
  • The median sold price of $240,500 for 4th Quarter has increased 20.6% from 4th Quarter 2011. The best of all zip codes.
  • Sold homes in 4th Quarter received 95.8% of the asking price, an increase from 94.03% for 4th Quarter 2011.


28412 Zip Code

  • The average selling price, of $181,470 has increased 2.0% over 4th Quarter 2011 average selling price of $177,917.
  • 29% of sellers in 4th Quarter paid a concession, compared to 31% in 4th Quarter 2011.
  • The average list price of $188,012 for 4th Quarter has increased 1.2% over 4th Quarter 2011 average list price of $185,863.
  • The average number of days a property remained on the market for 4th Quarter was 115 days, compared to 157 days for 4th Quarter 2011.
  • The median sold price of $165,000 for 4th Quarter has increased 13.0% from 4th Quarter 2011.
  • Sold homes in 4th Quarter received 96.52% of the asking price, an increase from 95.7% for 4th Quarter 2011.


28451 Zip Code

  • The average selling price, of $205,675 has decreased 7.6% from 4th Quarter 2011 average selling price of $222,492.
  • 23% of sellers in 4th Quarter paid a concession, compared to 33% in 4th Quarter 2011.
  • The average list price of $209,787 for 4th Quarter has decreased 8.7% over 4th Quarter 2011 average list price of $229,874.
  • The average number of days a property remained on the market for 4th Quarter was 132 days, compared to 115 days for 4th Quarter 2011.
  • The median sold price of $195,940 for 4th Quarter has increased .01% from 4th Quarter 2011.  
  • Sold homes in 4th Quarter received 98.0% of the asking price, an increase from 96.79% for 4th Quarter 2011. The best of all zip codes.

Summary for Real Estate Consumers
As we continue on our path to recovery, two out of six zip codes reported an increase in the average sales price. We have four zip codes that have the List to Sales Price Ratio above 95% – this is the second quarter that we have had this ratio. A good sign that real estate is recovering is that clients are getting closer to their asking price. All zip codes, except 28451, reported fewer days on the market by an average of 31 days.

For all the Wilmington NC real estate with buyer and seller advice please visit www.cbbaker.com

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