For our Friends, Customers, and Clients...here are some stats to assist you in understanding what's happening in Wilmington, N.C. housing wise the last 2 months for which stats are available (i.e., Sept. and Oct.).
Housing Conditions:
Total Units... Sold in Sept. 396 Sold in Oct. 447 (+ 12.9%)
Average Sales Price... Sept. $264,340 Oct. $237,998 ( - 9.9%)
Median Sales Price... Sept. $185,000 Oct. $187,500 ( + 1.3%)
Total Dollars ... Sept. $104,678,770 Oct. $106,385,203 (( + 1%)
DOM ... Sept. 135 Oct . 143
New Listings ... Sept. 886 Oct . 861 (-2.8%)
My Analysis: Credit markets must be watched as underwriting guidelines continue to tighten. Units continue to sell, with the assistance, presumably, of the "First Time Buyer Incentives" and Investor demand. Home Builders having some difficulty competing with the supply of resold homes on the market, creating excellent buying opportunities for Buyers ready to act now!
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