Wilmington home prices rose in September

Home sale revenue bumped up in September to $104.6 million from $89.3 million in August.

The jump represents a slight increase in sales of single-family residential homes and an increase in average sales price. “In August the higher-end homes were beginning to move,” said April McDavid, president of the Wilmington Regional Association of Realtors (WRAR). The organization recently released its September statistics.

September is the first month this year where home sales have exceeded the numbers from this time last year. “I’m hoping to see this as a stabilization,” McDavid said. She thinks the first time homebuyer incentive, which expires Nov. 30 may have contributed to the increase in sales.

“People who are looking right now are pretty serious,” McDavid said. In contrast, those who don’t need to sell their homes are holding off.

Average sales prices for homes increased from $220,129 in July, $234,988 in August, and $264,340 in September. The number of homes that sold fluctuated from 435 in July, 380 in August, and 396 in September.