2012 was the year that Landfall real estate sale in Wilmington NC exploded again. Let's look at the numbers for in landfall to see the trends of 2011 June, July and August to 2012, and there is a staggering increase here here you have 18, 17 and 16 transactions in 2012 but there was only had 10, 6 and 6 in 2011. So there was 113% increase in the number of sales this year are in landfall. if you look at the last few months that is amazing that number that coincides well with the rest of the spring boom that happened here in Wilmington NC. It really was a turning of the corner if you will. There also happens to be 20% less inventory. Well when you're selling so many more houses you're bound to get less inventory so all that keeps prices very stable, higher demand, lower inventory, stable or appreciating prices .
All right next let's look at days on market. One of the interesting trends here is that it's taking longer to sell homes now than it was 15 months ago, and I think one of the reasons for that is is that the sellers are feeling empowered. They know there's higher demand. they know there's much more transactions so they are holding out offers closer to their list prices than before. And therefore they're not in a hurry to sell the house or to work with the 1st offer that get. So that sort of what's happening there as you can see the sold price compared to list price is pretty steady around 93%. And then finally you look at the big picture here inventory there used to be around 30 months of inventory. Now as above August September it's down to 13. That is a dramatic decrease. Couple reasons for that. More homes have been selling so that naturally decreases inventory and probably a lot of people back here a year ago rented their homes out and that decrease the inventory for sale as well.
I would normally show you a few of the recent listings but I'm finding that as I use Dragon speak to actually dictate and record the text of these videos it's not allowing me to do so many programs simultaneously as they are very heavy software to be running on a computer. so I'll do a separate video for that and give you some observations based on listings in landfall from the last month and what they tell us about the neighborhood in case you're looking into it, and are learning the market.
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