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April 2009 Sales Numbers for the Wilmington, NC and Beach Markets

By
Real Estate Agent with Intracoastal Realty Corp

t Are we coming out of this recession yet? Have we hit bottom are things turning up? The optimistic signals are good, pending sales index is up, housing affordability is up,  but how does the Wilmington NC market stack up?  WE had a 25 unit decrease in sold units - we are still in a strong buyers market with a listing inventory of over 17.7 months.

However our pending index is up 55% from December 2008.

I would guess that lots of new home buyers are entering our market  - over 90% of the homes going under contract are under $ 300K or less.  They are taking advantage of the $ 8000. tax credit.

 Beach Market - Carolina and Kure Beach

There are currently 604 single family homes for sale and this represents a 13 unit increase over April and 11.0% of our total WRAR inventory.  The average list price is $467,247 a slight increase over April 09'. In April there were 24 homes sold, divide that by the homes available and you have a very large monthly supply of homes in Carolina and Kure Beach (over 25 months). This is 3 months lower than last month. The average sold price for the month of April was $297,475 and is up from last month. In April 2008 we had 29 home sales at an average $336,327. When we look at our rolling 12 months we see that we are ahead in units by 12 and our average sold price has dipped from $403,099 to a current $349,145 a decrease of 13.4%.

This data was pulled on May 10, 2009, based on information from the Wilmington Regional Association of REALTORS Incorporated, for the period Jan. 1, 2005 through April 30, 2009 and compiled by

      David Flory   Mortgage Consultant Cunningham & Company Mortgage Bankers 910-352-8273 cell 910-313-0045 office davidf@cunninghammortgage.com www.cunninghammortgage.com     

If you were thinking of buying a second home or vacation home on the coast - now is the time. Rates are good and the inventory is phenomenal.  The market is yours today- you may never have the opportunity to choose from so many houses for sale and at such terrific prices.

 

Posted by

Kathy Knight, Broker/REALTOR, ABR,GRI, CRS, SRF

Intracoastal Realty Corp, Wilmington NC

Let's talk about      THE BEACH!!!

Comments (2)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Kathy - It sounds like you are showing signs of encouragement in your marketplace.  That's good news!  Your picture of your East Coast shoreline is very pleasing!

May 26, 2009 01:34 PM
Midori Miller
Talk 2 Midori, LLC - Daytona Beach, FL
Online Marketing For Real Estate Professionals

What a beautiful pic...almost feels like home to me! :) 

Jun 02, 2009 06:54 AM