Home sales reached their highest level for the month of November since 2006, according to local market statistics released this week.
Last month, 528 homes were sold, data from the
Wilmington Regional Association of Realtors Residential MLS shows, compared to 419 in November 2013. That’s a 26 percent increase over last year.
“I think, year over year, we’re doing very well. It’s still a healthy growth pattern for us,” said Jody Wainio, president of WRAR, on Thursday. “Our number of new listings is down [639 last month from 689 in November 2013], which gives the seller a little more leverage with getting a better price.”
Average and median home sale prices also posted an increase when comparing November 2013 and last month: $228,431 to $235,849; and $185,000 to $196,250, respectively.
Wainio said she is pleased to see that the number of units sold last month is in the middle of the November 2006 high of 619 and the November 2007 amount, 448.
“That’s a good sign, and even our average sales price continues to rise; our median sales price continues to rise,” Wainio said. “So as a result, our total dollars [$124.5 million last month versus $95.7 million in November 2013] is considerably better than last November.”
She said she has a positive outlook when it comes to home sales in 2015.
“I see us continuing to improve, to get more stability in the market,” Wainio said. “I hope that interest rates remain at a reasonably low level. I think they’ll probably rise a little bit, but not too terribly.”