More Homes, Higher Prices: Wilmington MSA Market Update

With a year-over-year increase of 18.2 percent, the January 2025 Wilmington MSA housing market was characterized by more homes and higher prices. January 2025 closed the month with 3,215 active listings, reflecting a 4.4 percent decrease compared to December 2024. New listings for the Wilmington MSA totaled 1,156, a 66.1 percent increase from the previous month. Year-over-year the new listings remained nearly consistent with a total increase of 2.2%. Pending sales rose to 923, representing a 28.4 percent increase from December 2024. Month’s supply of inventory saw a 30.9 percent increase compared to December 2024. Ending the year with 4.7 months of inventory, the Wilmington MSA experienced a 17.6 percent increase compared to the 4 months of supply in January 2024.

Closed sales for the Wilmington MSA experienced a 26.9 percent decrease compared to December 2024. This decrease led to a total of 678 sales in January 2025. Compared to January 2024, closed sales remained nearly the same, with a modest 0.3 percent increase. The average cumulative days on market experienced a year-over-year increase of 24.6 percent. This 71-day average was a 3 percent increase when compared to December 2024. The 2.4 percent decrease in year-over-year median sales prices was a welcomed decline amid the rising home prices.

“As we start the New Year, there are key market indicators that stand out for January 2025. The Wilmington MSA continues to see a rise in available homes and a steady increase in the median sales price. These two consistent trends have been noted for months. January 2025 saw an influx of new inventory on the market as the closed sales experienced a dip. Not uncommon, as December 2024 has historically been a slower month for our area. I expect to see a leveling out of these two metrics as we navigate the first quarter of the year,” states 2025 CFR President Brittany Allen. “Indicative of the increase in new listings, month’s supply of inventory experienced an increase of more than a month. Rising to 4.7 months’ supply of inventory, our local market is the closest it has been to a balanced market.”

If you have plans to enter the market in 2025, we believe that the REALTOR® difference is crucial to your transaction. Cape Fear REALTORS® members are well equipped to guide a buyer or seller through the increase in active listings and slower sales. When looking to step into the demands of the housing market in the Cape Fear region, look for the R. That’s the REALTOR® difference.

Cape Fear REALTORS® continues to monitor the housing market activity and provide monthly updates.  Working with an expert who keeps a watchful eye on trends and follows the Code of Ethics is important.  That’s Who We R.

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At over 3,600 members, we are the Cape Fear Region’s Voice of Real Estate. Cape Fear REALTORS® (CFR) protects the private property rights for local real estate consumers while enhancing the individual and corporate careers of its members. For further information on this topic and others, please visit www.capefear.realtor or contact the Cape Fear REALTORS® Offices at 910-762-7400.