Wilmington area Home Prices & Activity Rising
WILMINGTON, NC - After almost a decade of falling home prices and increasing days on market the Wilmington NC area residential homes data is finally showing a rebound. The information below was recently released to local REALTORS© by the Wilmington Regional Association of REALTORS©, which shows a significant increase in the average housing prices and a decrease in days on market. Also keep in mind that our average days on market is impacted greatly by the huge range in prices, so if you remove the over $400,000 ranges then the average days on market drops by almost another two months which is a huge change. Resale and new home inventory in New Hanover county under $400,000 is getting extremely scarce and the availability of home sites in New Hanover County is almost non existent.
If you or anyone you know are/is thinking about selling this may be the time to do it as prices are up, interest rates are low. Also, with the extreme ecological changes in seawater temperature and marine life activity we could very well see ourselves hit by a hurricane which could impact the market for a period of time. So, what am I personally doing with my real estate? I'm getting out of any properties I have been holding since the fall as this may well be the the top of this little run for a bit.