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Real Estate - Residential

Most, Least Active Zip Codes In Q3

By Cece Nunn, posted Nov 4, 2016

While home sales have been on the rise this year in the Cape Fear region overall, some zip codes were more popular among homebuyers than others in a recent analysis.

Overall, the number of homes sold in 10 zip codes in New Hanover County and one in the Hampstead region of Pender County rose by more than 6 percent in the third quarter of 2016 compared to the same period last year.

Eight out of the 11 zip codes also saw an increase in the average sales price, while the list-to-sales price ratio in 10 out of 11 zip codes was above 95 percent.

“A good sign that real estate is recovering is the sign that clients are getting closer to their asking price,” the WRAR analysis stated.

The most active areas in terms of the numbers of home sold, quarter over quarter:

  • 28403: 32 percent increase in homes sold, but the average list price declined by more than 6 percent from about $240,000 to $225,000.
  • 28412: 28 percent increase in homes sold, and the highest increase in median sold prices up 10 percent to $204,000.
  • 28480: 14 percent increase in homes sold in Wrightsville Beach’s zip code, while the list-to-sales price ratio fell slightly from 93.6 percent to about 93 percent.

The zip codes that sold the least number of units:

  • 28449: Kure Beach’s zip code saw a 24 percent decrease in the number of homes sold as the average list price for the area jumped 27 percent from about $372,000 to nearly $474,000. The average selling price soared by nearly 30 percent to about $460,000.
  • 28401: The number of units sold showed a 15 percent decrease in this downtown zip code, and the median sold price decreased by 1.6 percent.
  • 28405: In a northern section of the study area, fewer homes sold for a nearly 13 percent decrease, the same percentage drop as the median sold price, which fell to $191,500.
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