The Week in Review
....your Wilmington Connection
July 17, 2011
Another great weekend of fantastic weather. Have you been home searching? You should its a great time for it! There are some incredible deals out there and interest rates are still low. This wont continue forever now is the time to make it happen.
Wilmington NC Real Estate
Currently on the market there are 2006 single family homes in the Greater Wilmington area and 214 homes under contract. A slight increase over last week. In the last month there have been 184 solds and only 72 of those were priced above $250,000. The market is rather stagnant. Lower priced homes and of course the ones that are priced compellingly are moving fast. Is your home priced that way? Are you thinking of listing? Lets talk about what it will take. Email me
Wilmington home sales down
Wilmington-area home sales continued a downward trend last month, and average and median sales prices were off as well compared with June of last year, according to statistics from the Wilmington Regional Association of Realtors that were released Wednesday.
The average price of a home whose deal closed in June fell 1 percent, to $237,930 last month compared with $239,000 in June 2010.
The median price - the point where half of homes sold for more and half for less - was down 5 percent, to $179,600 from $189,450.
Prices are only for homes that sold and do not represent the overall prices of area homes, though their movement is an indication of the market's direction.
Additionally, closings typically occur at least 30 to 60 days after the contracts were written on the homes.
A new survey from the National Association of Home Builders finds that Americans continue to embrace home ownership.
The results show that 75 percent of 2,000 people polled agree home ownership is worth the risk of fluctuations in the market and that 73 percent of renters want to own someday.
With more than 70 percent saying the U.S. government should offer tax incentives to promote ownership and oppose proposals to end the mortgage interest deduction.
until next week in The Week in Review