With the close of the third quarter, we are proud to release the Third Quarter 2016 Nest Report. Our market has been exceptionally active over the last two plus years and this past quarter was no exception. Overall, our market is showing signs of healthy stability and modest growth. Total sales are up slightly year-over-year and prices are trending upwards. Our goal at Nest is to equip our clients to make informed real estate decisions so please continue reading for more highlights from the third quarter and be sure to read the full report here.
Wilmington MSA
- Total sales increased 1% year-over-year with the attached segment experiencing a 17% gain.
- Median sales prices rose by approximately 3%
- Average days on market for single family homes dropped more than 19% to 71 days
New Hanover County
- Total sales rose by 2% year-over-year, carried primarily by 22% growth in the attached segment as single family and condos sales were relatively the same as Q3 2015.
- Inventory levels have dropped 22% since the end of Q3 2015, resulting in 4 months of inventory available which are favorable conditions for sellers.
- Buyer demand remains strong as evidenced by the significant decline in average days on market.
Be sure to check out the full Third Quarter 2016 Nest Report to learn more about about how our market performed this past quarter. Have questions? Contact your Nest Broker today to find out what this report means for you.