Home sale numbers in New Hanover, Pender and northern Brunswick counties inched up again in February, according to the latest statistics from Cape Fear Realtors.

In terms of units sold, the total last month was 552, a nearly 4 percent increase in homes sold from February 2016, figures released Monday show.

And the median sales price in February this year compared to the same period last year rose by 7 percent, from nearly $191,000 to more than $204,000.

The median price increase is another sign that the Wilmington area is experiencing a seller's market, said Neal Johnson, president of Cape Fear Realtors. 

One of the most significant changes in the statistics came from the number of days on market -- an 18 percent decrease from the same month a year before, according to CFR. The drop indicates a shortage of inventory, Johnson said.

In New Hanover County, the absorption rate showed a 3.69-month supply in February this year, Johnson said.

"We're still below that five-month marker of absorption rate, which is a strong indicator that it's still a seller's market," he said.

Realtors are hopeful that the positive numbers will continue, especially as the area's weather warms up. The real estate cycle typically picks up with rising temperatures in the Cape Fear region, Johnson said.

Of the February numbers, Johnson said, "If I can see positive numbers in all the categories that we keep track of, I'm more than pleased with that." 

January's numbers reported by CFR showed an historic high, with the number of units sold increasing 41 percent compared to January 2016. 

 

Cape Fear Realtors regional statistics for February

	Feb. 2016	Feb. 2017	% change
Total units sold	533	552	3.56
Avg. sales price	$242,749	$250,580	3.23
Median sales price	$190,750	$204,550	7.23
Days on market	114	93	-18.42
New listings	968	1,075	11.05
Total dollars	$129,385,247	$138,320,401	6.91