Wilmington, NC Real Estate Report September 2012 (Our Backyard)

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Buying or selling a home in the “Port City?” Take a look at the data below for an idea of what homes are selling for in Wilmington, NC. You can also see how many homes have sold recently, how many are in foreclosure and how these figures have changed over time. Please keep in mind that the data below is pulled from public sources and can change without notice. For the most accurate, up-to-date real estate information on Wilmington, NC and the surrounding areas, talk to an experienced agent.

Wilmington, NC Real Estate Report

Median List Price: $195,000
Median Sale Price: $196,300
Home Type Breakdown: 81.8% single-family, 13.2% condo, 5% other
Homes Currently for Sale: 1,284
Homes Recently Sold: 3,579
Homes Foreclosed: 4.88 per 10,000 in a given month

How the Numbers Have Changed

Historic home on 4th St in downtown Wilmington, NC

Wilmington, NC home sellers will be glad to know that the median sale price has increased 5.0 percent since last year. Quarter-over-quarter, the median sale price jumped more than 10 percent. Month-over-month it rose 7.3 percent. According to Jay Seville who operates, Kure-Beach-Homes.com, the top price quartile in the Wilmington market has seen a significant increase in listing prices (over $703K in Wilmington). A video on Jay’s site (8/9/2012) illustrates that the Days on Market in Wilmington has fallen from 170 in June of 2011 to 133 in July of 2012.

Median list prices remain steady, showing a zero percent change since this time last year and only a 2.6 percent increase month-over-month

Homes that have gone into foreclosure increased slightly in the Port City, inching upward 1.0 percent since last year. The good news is, foreclosures have dropped -5.6 percent quarter-over-quarter and -3.4 percent month-over-month.

New Listings Just Outside Wilmington, NC

If you’re thinking of purchasing a home in the Wilmington, NC area, you might want to check out property listings in the surrounding areas. Sometimes you can avoid higher prices and get more home for your money when you invest in something on the outskirts of the city.

We found the following new listings (listed within the last 30 days) for homes just outside of the “Port City.” If one of these catches your eye, be sure to contact a real estate professional for more information.

(Please note, these listings may be subject to change. All information presented here is accurate as of 9/27/12).

413 Silo Court, Castle Hayne NC 28429
$144,500
4 bedrooms, 2 baths
You may be hard pressed to find this much space for this low price in Wilmington. Located in Castle Hayne (only about 10 minutes outside Wilmington), this single-family home boasts a two-car garage and a kitchen with island.
Link: http://www.trulia.com/property/1073915995-413-Silo-Ct-Castle-Hayne-NC-28429

710 Azalea Drive, Hampstead NC 28443
$94,000
3 bedrooms, 2 baths
This spacious condo is located in Belvedere Plantation in Hampstead, NC. Hampstead is only about a 20 minute drive from downtown Wilmington and is still convenient to local beaches, shops and restaurants. The condo features a large Florida room, laminate floors, his and her sinks and more. This property is offered as a short sale.
Link: http://www.trulia.com/property/3096654463-710-Azalea-Dr-474-Hampstead-NC-28443

1208 Tremont Court, Wilmington NC28411
$229,900
4 bedrooms, 2.5 baths
This beautiful single-family home is located in the Murraysville area of Wilmington, about five minutes outside the center of the city. Enjoy the cozy fireplace, new carpet and paint throughout and a large back deck that’s perfect for entertaining. As an added bonus, the seller is offering special financing through the HomePath Mortgage and Renovation Mortgage programs.
Link: http://www.trulia.com/property/3092605134-1208-Tremont-Ct-Wilmington-NC-28411

Steph Meyer is a contributor to the ForTheBestRate.com Blog and keeps us up to date on interesting happenings within the world of home financing and real estate. She’s got a quick wit and keen eye on making smart financial decisions. My Google Profile+

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