Happy 2016 Wilmington! Each year as we prepare for the spring market, we first take a look back at the year that was in our local real estate market. We are proud to present the 2015 edition of the Nest Realty Annual Report. We know that you’re often inundated with real estate market data that can be difficult to decipher. Our goal at Nest is to provide you with local, relevant, easy-to-understand data to empower you to confidently make informed decisions when the time arrives.
The Wilmington area real estate market had one of the strongest performances in recent years. Total sales levels in the Wilmington metropolitan statistical area (MSA), which includes New Hanover and Pender counties, rose significantly compared to 2014 levels. 2015 saw the largest year-over-year growth since a near 11% increase from 2012 to 2013. Prices continued their upward climb this past year as both median and average sales prices rose this past year. Inventory levels continued to remain below historical levels which could explain the continued increase in prices. Homes also sold faster in 2015 as average days on market dropped significantly. Overall, market indicators are positive, but the inventory situation will be one we monitor closely in 2016. To learn more about how the Wilmington market performed last year, take a look at the highlights below and read the full 2015 Nest Realty Annual Report here!
- Total sales in the Wilmington MSA rose approximately 16%
- Median sales price rose approximately 2.5%
- Days on market in New Hanover County averaged 97 days
- Murrayville experience the largest growth in sales of any area in New Hanover County
Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more.
Ashley Hales
Written on
Some very good information in here Ryan and nicely done.