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Real Estate - Residential

April Home Sales Up 8.6 Percent In Wilmington Area

By Cece Nunn, posted May 11, 2017
The number of homes sold in the Wilmington area showed a nearly 8.6 percent increase in April over the same period last year, according to the latest statistics from Cape Fear Realtors.

Last month, 849 homes sold in New Hanover, Pender and northern Brunswick counties, according to the N.C. Regional Multiple Listing Service, up from 782. April 2017's total is the highest number of units sold in April since CFR began recording monthly totals in 1998; the next highest is last year's.

"We're expecting the numbers to be that good because were just seeing that track record month after month. Our expectation is to continue to see the positive numbers that we're seeing in all the statistical fields we keep track of," said Neal Johnson, president of CFR and owning partner at Network Real Estate, on Thursday.

The median price increased from $205,000 to $215,000 in a year-over-year April comparison, the CFR statistics show, and days on market fell again, from 92 to 87 days.

The CFR market averaged a home sales price of $247,919, nearly 4 percent higher than the year-to-date from January to April last year, according to a CFR news release. Year-to-date sales units hit a decade high, up 19.8 percent to 2,929 sales from the 2016 YTD sales of 2,445. Total YTD dollar volume was up 24.8 percent.

The March 2017 total for homes sold was higher at 907, a 61 percent increase over February and a 27 percent increase over the same month in 2016. There was no month-to-month difference in the median sales price between March and April.

At some price points, especially those homes listed at $250,000 and below, days on market numbers continue to diminish, Realtors say. 
The luxury home market fared better last month than in April 2016, with 10 houses in the $1 million-and-up price range sold in the tri-county region compared to seven last year, according to a Just For Buyers Realty luxury market report based on N.C. MLS data.

"Total sales volume of high-end homes in New Hanover, Brunswick and Pender counties was $13.77 million in April, compared with $8.21 million in April 2016," the report said. 

The report also said the most expensive home ever listed on the local MLS is back on the market for $11.9 million. The 5,500-square-foot house at 710 Shoals Watch Way on Bald Head Island sits on 2.56 aces of oceanfront property, according to the Just For Buyers report.

"The home's return to the market coincides with a four-month run of year-over-year improvements in luxury home sales," the report said.
Cape Fear Realtors regional statistics for April
  April 2016 April 2017 % change
Total units sold 782 849 8.57
Avg. sales price $236,780 $252,208 6.52
Median sales price $205,000 $215,000 4.88
Days on market 92 87 -5.43
New listings 1,058 1,066 0.76
Total dollars $185,162,332 $214,125,122 15.64


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