Wilmington NC real estate median sold price continues its five month climb; we are 1.0% ahead of last month and 1.6% over last year this time. Our pending index is up 6.3% from last month. Our year to date we have a growth of 15.2% sold units over last year while our average sold price is just 1.9% behind last year. In our rolling 12 months we are 16.1% up in sold units and our average sold price is only down by 3.6%. This is the first month to break the string of sold units over the prior year; we had a string of 10 months. A key point to note is the average sold price is just a hair under last month by .03% or $707.00, but we are 8.4% ahead of last year this time. The trend is our negative numbers and gaps keep getting smaller and smaller.
In the month of July, we saw a decrease of 125 Wilmington NC homes for sale, we have 5,604 homes on the market as of August 1st. This continues to put us in a strong buyer’s market with a listing inventory of over a 16.0 month supply. With the low sales in July this affects our month supply with a change of 5 months from last month. Our average list price has stayed below the $400,000 range for eleven months; we are currently at $377,052. In July we saw a decrease in our seller concessions, it is now 21.7%. Our average days on the market are 121. The list to sold ratio is 94.8% and is up .4% from last month; this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 17.7% of July sold homes. The 30-year fixed-rate mortgage (FRM) averaged 4.44% with an average 0.7 points for the week ending August 12, 2010. We are now hitting historic lows in mortgage rates.
Listing Inventory
In July we saw our first decrease in listing inventory of 125 units. We are about 204 units over August 1, 2009. We have 5,604 single family homes for sale in our MLS. The average list price of $377,052 is down by $3,515 from last month. The average list price has decreased by 8.1% from August 1, 2009. Read the rest of this entry
The real estate market conditions in Wilmington, NC are showing some signs of improvement in terms of number of homes sold in 2010 over 2009. The number of sales have been up for 10 months straight for the Cape Fear Region.
May and June average sales prices numbers have dropped from 2009, as the number of foreclosures and short sales are bringing prices down. The average sales price for Wilmington NC homes area for June was $238,610. Complete sales history here..
If you are in the market for Wilmington NC real estate, right now is an awesome time to buy a home. Interest rates are at a historic low and inventories are high with an abundance of foreclosures and short sales to choose from. You can really get an excellent buy meaning more home for the money. If you would like a list of Wilmington NC foreclosures or short sales, just email kaybaker@ec.rr.com. We will send a complete list to your inbox. You may search real estate at www.cbbaker.com.
Coldwell Banker real estate continues to receive awards for their innovative marketing especially in the Wilmington NC real estate market. The Latest award was for “On Location” YouTube Channel, for the Real estate Category. Below is the letter from Corporate headquarters for Coldwell Banker Realty.
Coldwell Banker Sea Coast realty and Kay Baker and Associates continue to strive for new ideas and creative outlets for marketing of Wilmington NC real estate. Visit http://www.cbbaker.com/
COLDWELL BANKER REAL ESTATE WINS COMMUNICATOR CREATIVE EXCELLENCE AWARD FROM INTERNATIONAL ACADEMY OF VISUAL ARTS
Brand’s ‘On Location’ YouTube Channel Honored in Real Estate Website Category
PARSIPPANY, N.J., (July 7, 2010) – The International Academy of the Visual Arts has named Coldwell Banker On Location, the brand’s YouTube channel, a recipient of this year’s Communicator Awards for Creative Excellence in the real estate website category. The category honors the best site for the sale or rental of residential or commercial property.
“We were the first national real estate brand to add streaming video to our website. Today, our agents across the globe have posted more than 15,000 videos to our On Location channel,” said Mike Fischer, chief marketing officer for Coldwell Banker Real Estate LLC. “The most exciting part of On Location is that we have only just begun – there’s a lot more to come.”
On Location has been rated among the top 10 most-viewed brand channels on YouTube. In April, just 11 months after launching On Location, Coldwell Banker announced it had received over 1 million views. The site was launched in May 2009 and was produced in collaboration with FD Kinesis.
“Home buyers would much rather see a home than only read about it,” Fischer said. “Our On Location videos empower them to get a feel for a home, a community or a real estate professional that they could not get from photos or a text description alone. Equally important are the home sellers who are now expecting video to be a part of marketing their property.”
With thousands of entries received from across the United States and around the world, the Communicator Awards is one of the largest and most competitive awards program honoring the creative excellence for communications professionals. The Communicator Awards are judged and overseen by the International Academy of the Visual Arts, an invitation-only body consisting of top-tier professionals from acclaimed media, advertising and marketing firms.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 98,000 agents working in more than 3,600 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create a iPhone application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.
© 2010 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated Except Offices Owned And Operated By NRT Incorporated.
Did you miss the $8,000 Stimulus deadline to purchase a new home? If you did Coldwell Banker Corporate has announced a Buyer Bonus plan that could help you get a credit on a new home. 
Purchase a participating home between May 1, 2010 and July 31, 2010 and the seller will refund 3% of the accepted offer price up to $8,000 to you as a credit at closing. Look for the “Buyer Bonus Program” homes online or call us and we can help you with your search for a new home. You don’t have to be a first time home buyer to enjoy the credit. Read more here.
Search online at www.cbbaker.com or TEXT 14059 to 44133 to search on your mobile phone.
Once again, Wilmington NC made the top 100 list for the most desirable places to live. The cities chosen by Relocate America were based on future recovery and growth including employment, the real estate market conditions, recreational opportunities and the quality of life. In other words, Wilmington NC is a great place to live and play!
Wilmington NC Real Estate
If you are thinking of moving to the area, you will definitely need a real estate professional who is knowledgeable about the area. I am a life long Wilmington NC Realtor with all the experience and knowledge it takes to be your Realtor for life. Just give me a call or email kaybaker@ec.rr.com.
You can also search for Wilmington NC homes or Wilmington NC real estate at www.cbbaker.com. There you can search by schools, maps, zip codes, price ranges, neighborhoods and more.
A new law will allow investors who have bought homes to renovate and flip to get those homes back on the market immediately. Under the previous guidelines the investor must have owned the home for at least 90 days. As a result, investors have been skeptical of buying foreclosures because of the carrying expenses during the 90 day hold period. There are some guidelines for investors and buyers under the new ruling: 1) The property must not have a pattern of being flipped by investors. 2) All transactions must be “arms length”. In other words, no related parties. 3) Lender may require documentation of renovations if sales price is inflated by 20% or more or a second appraisal may be required.
For more detailed information about Wilmington, NC real estate foreclosures or short sales available , please contact me kaybaker@ec.rr.com. I will send you a detailed list of Wilmington, NC homes right to your email. Or, if you are a homeowner and need assistance in selling your home, we are experts in the short sale and foreclosure market, too.
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Wilmington NC real estate | Announcing the Greater Wilmington NC School Guide
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Kay Baker & Associates is excited to announce our Greater Wilmington NC School Guide. Your one stop shop for all the information you need on New Hanover County, Pender County and Brunswick County schools. This innovative digital magazine is the first in the Wilmington NC area. Useful information is at your fingertips when selecting the best school for you or your child from Kindergarden to Higher College Education, whether it be a public school or private school. We have it all here for you. Please take time to visit, and explore the links to each school system. All the information about registering for schools, what each library has on it’s shelves, special need centers in each school and contact numbers are all put together for you in an easy digital magazine. There is also a link for Wilmington NC real estate to search for homes in a certain school district. We want to make your life easy, especially when entertaining a move. Click here for the Greater Wilmington NC School Guide. Search all Wilmington NC real estate on www.cbbaker.com and let us know if we can help.
Wilmington NC Jobs Increase
There are signs of a recovering economy as a recent jobs report listing cities with jobs growth over 1% for period July-October 2009, listed Wilmington NC in the top ten cities for jobs growth during that period. The list was compiled by the Bureau of Labor Statistics. There were 77 cities that saw jobs increase during that period and 19 cities saw growth of over 1%. Wilmington NC jobs increased by 2.1% while Merced, Calif saw a 2.7% increase and Raleigh-Cary 1.3%. That is really good news for the Cape Fear Region.
The housing market seems to be experiencing a comeback, as the market has had 4 consecutive months of sales increases over 2008.
Wilmington NC Real Estate
If you are thinking about purchasing Wilmington, NC real estate, please take advantage of the $8000 tax credit. What an opportunity for homebuyers! And, you can search for Wilmington NC homes by neighborhood, schools, maps, zip codes, price and more at www.cbbaker.com. Please feel free to contact me at kaybaker@ec.rr.com or 910232-0363. We are here to assist you with your real estate needs every step of the way.
Pine Valley Estates| Wilmington NC real estate: OPEN HOUSE Sunday 12/6 1-4 pm | http://www.relocationwilmingtonnc.com/ via @addthis
Home sales are on the rise now for 3 months in a row. That is certainly a good sign that the real estate market may be rebounding, finally. And, the historic low interest rates and the $8000 tax credit have definitely given the market a boost.
New home sales have risen more in the last month than they have in 8 years. New construction is busier now than any month since last fall. But, new home sales are still down 72% from 4 years ago as inventories remain high.
Our own Wilmington, NC real estate market is seeing signs of improvement, as well. First time home buyers are jumping in to take advantage of a once in a lifetime opportunity. Second home and vacation home buyers are beginning to see the benefits of purchasing a dream home on the beach, whether it be Wrightsville Beach, Carolina Beach or Topsail Beach, NC real estate. Now is the time to take advantage of this market. Everything is on sale now…
To begin your search for Wilmington, NC homes, please log on to my website at www.cbbaker.com or email me at kay@cbbaker.com. I can send you a detailed list of foreclosures, short sales and homes price under $100 ft.
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