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Real Estate - Residential

February Home Sales Show Continuing Stability, WRAR President Says

By Cece Nunn, posted Mar 11, 2015
Home sales in the Wilmington area rose nearly 7 percent in February compared to the same month last year, according to MLS data compiled by the Wilmington Regional Association of Realtors.

“The market is definitely showing stability,” said Sherri Pickard, president of WRAR, on Wednesday. “It’s more of a steady, healthy pace, and of course, the current interest rate environment is very supportive of the housing market at this time.”

The WRAR’s MLS statistics, which include listings in Pender, parts of Duplin and Sampson counties and parts of northern Brunswick County, show that 452 homes sold in February this year, an increase of 6.6 percent over last February, at average and median prices that were just slightly higher than those of February 2014. Total volume also increased just under 7 percent last month, Pickard said.

A jump in January, as a result of homeowners typically being less willing to put their homes on the market during the December holidays, resulted in fewer listings in February, but that was not surprising, she said.

“The number of listings from December to January went up almost 64 percent, and typically when you have a big jump on anything, it’s not unusual to see it back up just a little bit,” Pickard said.

At 128 days, the homes that sold in February had been on the market six fewer days than the same month last year, the least amount of time for February totals since 2012, according to WRAR figures.

“We’re happy to see the days on the market going down just under 5 percent,” Pickard said.
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