Boom! Update on the Wilmington NC real estate Market and Homes Sold

Most of Wilmington NC Real Estate Booming in 2012

I wrote few months ago that I was seeing the variables line up signaling that the Wilmington real estate market had turned a corner and was now in recovery.  As you can see list prices are up which usually coincide with higher homes values as the sold price as a % of list price staying is holding steady at 95-96%.

List Prices up 11% for Wilmington Homes for Sale

    and Sold prices are up 8.5% past 15 months for single family houses.   Probably that is this year's "boom" and things may stay flat rest of the year as the # of homes under contract is down after some crazy huge #s of transactions/# of homes sold.  But I anticpate another "boom" next year with prices going up again. Big message--don't wait another 1-3 years to buy! Waste of $$$$ 45% more homes sold than 15 months ago and 25% more homes than 1 year ago.  These numbers are sick (modern day lingo for "fantastic"/"amazing"/etc.).    

Inventory Down Sharply for Wilmington Homes for Sale

  Red is the 22403 zip code see map      below  .  As you can see inventory is down throughout the market.  

Mano a Mano -- Wilmington NC Zip Code Against Zip Code

            Landfall homes for sale are found in 28405. Masonboro (forest) homes are in 20409. The Porters Neck market is 28411. Jay Seville

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