Year End Snapshot of the Wilmington NC Real Estate Market...

By
Real Estate Agent with Intracoastal Realty Corp

December just means that 2011 is over.  We have a 7.2% increase in average sales price from last month. When you look at the sales for December you will see that there are only 4 transactions over $700,000. Almost 23% of our sales price range was $200,000 to $299,000 while over 44% of our transactions were for price range of $160,000 and down. Our sold units are up by 8.5% from last month and down 4.6% over last December. Current listing inventory is down by 8.6% from last month (which is to be expected) and the sellers paid concessions is down by 1.0% from last month. The average sold price is up $14,533 from last month and down $20,490 from last December. Our sold units hit 371, an increase of 29 units from last month. On January 1st we saw a decrease of 355 homes in our listing inventory; we have 3,751 homes on the market as of January 1st. This is our lowest listing inventory in a long time. This adjusted our month’s supply with just over 10.1 months a decrease from last month’s 12.4. Our average list price had a decrease this month; we are currently at $343,088. In December sellers paid concessions in about 29.6% transactions, about 1% lower than last month. Our average days on the market decreased to 152 days. The list to sold ratio has increased a little to 94.1% this number needs to continue to get better. The number of homes that sold in 15 days or less continues to remain very low, 12.9% of December sold homes. The 30-year fixed-rate mortgage (FRM) averaged 3.89% with an average 0.7 points for the week ending January 12, 2012.

The above information is from David Flory of Cunningham mortgage. David is still lending money so if you are looking for a mortgage he is located in Wilmington and can help you.

Mortgage Consultant

Cunningham & Company Mortgage Bankers

910-352-8273 cell

910-313-0045 office

davidf@cunninghammortgage.com

www.cunninghammortgage.com

Posted by

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

Intracoastal Realty Corp, Wilmington NC

Let's talk about      THE BEACH!!!

Comments (1)

Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

It sounds like it has been a great year for you Kathy. Congratulations! We hope you will have a prosperous 2012 too. Best of luck. Cheers.

Jan 23, 2012 02:42 PM