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Real Estate - Residential

WRAR: Home Sales Indicators Show Positive Trend

By Jenny Callison, posted Jul 21, 2014
A comparison of home sales for the second quarter of 2014 and the second quarter of 2013 indicates that the current trends are good news for sellers, according to a report Friday from the Wilmington Regional Association of Realtors (WRAR).

The organization analyzed data from 10 of the area’s major residential zip codes: all of New Hanover County except for 28401, northern Brunswick and coastal Pender counties.

“Eight out of ten zip codes reported an increase in the average sales price. Nine out of ten zip codes have the list to sales price ratio above 95 percent. A good sign that real estate is recovering is the sign that clients are getting closer to their asking price,” said WRAR president Jody Wainio.

That analysis showed:
  • The average sales price from second quarter 2013 to second quarter 2014 has increased 5.7 percent;
  • The average list price of the sold properties is $281,314 – up 6.2 percent;
  • The average number of days a property remained on the market was 124, down three days from the previous year;
  • The median sold price was $224,900 – an increase of 9.7 percent from the same quarter in 2013.
Several zip code areas showed noteworthy results in the comparison.
  • Sellers in the 28451 northern Brunswick area received an average of 99.28 percent of their asking price, a slight increase over the prior year and the best of all zip code areas in the report.
  • The greatest increase in the median sold price – 33.6 percent – was in zip code 28405, while the biggest jump in average sold price – 22.9 percent – was in Wrightsville Beach (28480). Wrightsville also showed the greatest increase in the average list price: 27.1 percent.
  • Other beach areas showed year-over-year improvement. Coastal Pender County (zip code 28443) showed a positive uptick in most indicators. Carolina Beach (28428) and Kure Beach (28449) also recorded slight upward trends.
For more of the market data, go to www.wrar.com.
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