The greater Wilmington housing market is showing signs of improvement, mirroring a national trend of improving housing sales in a recovering regional and national economy. 

Area residential Realtors are reporting some of their best sales since the start of the Great Recession, and many expect the upward sales trend to continue.

“This is the busiest it’s been in years,” said Ashley Garner, president of the Wilmington Regional Association of Realtors and an Intracoastal Realty broker.

Residential realty firms reported about 261 units sold in January in the greater Cape Fear Region, which includes New Hanover, Brunswick and Pender counties, according to recent figures released by the WRAR.

While that figure is slightly down from January 2011 — when 281 units sold — the pending sales index, which charts units that will close in 30 to 60 days, has reached an all-time high for this time of year.

Year-to-date, more than 618 units were on the area’s pending index, while 250 additional homes were in active due diligence — meaning that, while the home is under contract, brokers can still show the house to potential buyers.

“We’re getting multiple offers on more than one listing in virtually every price range,” Garner said.

Many local Realtors say a number of factors contribute to the uptick in sales -- record-low mortgage interest rates, increased consumer confidence, an improving economy and sustained job creation and stability – but one important factor seems to be driving Wilmington’s market: prices.

“Sellers and buyers realize we’re at the bottom of the market,” Garner said. “Prices are not going to jump back up like they did four and five years ago, and buyers are realizing that if they want to buy, this is the time to do it.”

Tim Milam, president and CEO of Coldwell Banker Sea Coast Advantage’s southeastern North Carolina division, said his firm is seeing record sale volume and interest since the year began.

“Our numbers are up,” Milam said. “And that’s definitely a good sign that things are getting better.”

Year-to-date, Milam’s division — which includes 10 offices throughout greater Wilmington and Jacksonville — has logged more than $168.5 million in sales, up $48.6 million from this time last year. Of the $168.5 million in contract volume, Sea Coast Advantage Realtors have closed on $96.1 million, handing keys to more than 500 new homeowners throughout southeastern North Carolina.  

Jim Wallace, president and CEO of Intracoastal Realty Corporation, said his company’s sales have been surging in all price ranges. The agency recently celebrated the sale of its first multi-million-dollar home since 2010, which sold in Wrightsville Beach for $3.15 million. 

“It’s as if someone just turned on the spigot,” Wallace said. “We’re seeing very robust activity for homes priced at $250,000 and below, and homes priced at $300,000 or more are showing and getting multiple offers.”

Wallace said, year-to-date, his firm’s contract volume has reached more than $106 million, with 50 percent of that total resulting in a home sale.

Similar results are reported by Wilmington-based Century 21 Sweyer & Associates. Owner Jeff Sweyer said his unit-number sales are up 50 percent, and contract volume is up by more than 40 percent.

Sweyer added that many of the buyers contacting his firm are locating to the region for business, or are purchasing a second home for retirement. He said, however, that others are looking to take advantage of Wilmington’s rental market, which is currently ranked as one of the best in the southeast U.S.

“Occupancy rates and rent rates are high in Wilmington,” Sweyer said.  “So now you have a large group going out and buying rental homes, giving the buyer the opportunity to have some else pay their mortgage, while pocketing extra income  . . . it’s become the perfect storm.”