The Week in Review
....your Wilmington Connection
April 25, 2010
Hope you all had a great weekend. This is the last few days to take advantage of the home buyer tax credit, a contract is needed by April 30th. Let me know if you need some help, we can put a rush on it. Email me
Wilmington NC Real Estate
Currently on the market there are 2516 homes on the market. There are 371 homes under contract. In the last 3 months there have been 489 homes sold, 317 of these were priced $250,000 and under this is due to an influx of first time home buyers taking advantage of the tax credit.
Home sales in March were up 10 percent compared to March 2009. Sale prices and total value of all sales in New Hanover and parts of Brunswick and Pender counties also were up, according to the most recent WRAR sales numbers.
The number of sales also increased for the third straight month, with 374 in March compared to 278 in February.
Whats going on with Foreclosures?
Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably. In fact, foreclosures are selling quickly, especially in the lower price ranges that are attractive to first-time home buyers.
Mortgage rates
Average, April 22 (Week earlier in parentheses)
30-year fixed: 5.07% (5.07%)+
15-year fixed: 4.39% (4.40%)*
5-year ARM: 4.03% (4.08%)*
1-year ARM: 4.22% (4.13%)-
+ Plus 0.7 point
* Plus 0.6 point
- Plus 0.5 point
......until next week in The Week in Review
Tina
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