Wilmington Real Estate Sales Rise 19% Q3 in 2015
We’ve just released the Third Quarter 2015 Nest Market Report for the Wilmington area. The real estate market saw a 19% year-over-year increase in total sales for Q3, with 1,547 total sales this year compared to 1302 in Q3 last year. In addition, the median sales price for this past quarter 2015 is $228,500 which is a 6% increase from $215,000 in 2014. The Wilmington MSA also saw a rise in the number of contracts written with a 24% increase from 2014.
Here are some highlights:
Wilmington MSA
- Sales for single family homes increased almost 18% from Q3 last year and accounted for 80% of total sales.
- In addition, the days on market for single family homes has gone down quite significantly from 112 days Q3 2014 to 90 days Q3 2015, a 20% decrease.
- The average price per square foot for homes has also risen 3% from $128/sqft Q3 2014 to $132/sqft in Q3 2015.
New Hanover County
- Total sales are up 17% from 2014.
- The median sales price is up slightly to $226,133, as compared to $207,950 in 2014, an almost 9% rise.
- Single family home sales, which account for 78% of sales, are up approximately 14%. In addition, median price for single family homes is up almost 7%.
- On average, single family homes are selling significantly faster. Days on market are down approximately 18% when compared to Q3 2014.
- At the end of the past quarter, there were 5 months of inventory available.
View the full Wilmington Real Estate Market Report here. Have questions about the report, or ready to start your home search? Please don’t hesitate to contact a Nest agent.