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3rd Q 2016 Real Estate Market Report by Zip Code

Third Quarter Report of 2016

Analyzing the growth within eleven major zip codes in our region, an average of the zip codes shows for the Third Quarter of 2016.

  •     Our average sales price has increased by 1.8% from 3rd Quarter 2015
  •     We had an increase of 6.3% in the number of homes sold in 3rd Quarter 2016
  •     Our list to sales price ratio for 3rd Quarter is 97.3% an increase from 96.9% for 3rd Quarter 2015.
  •     The average list price of the sold properties is $279,460 and is up 1.4% from 3rd Quarter 2015.
  •     The average number of days a property remained on the market for the 3rd Quarter was 86 days, compared to 108 days for 3rd Quarter 2015.

Over the last couple of years an analysis of eleven major zip codes – 28401, 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449 and 28443 was conducted. The areas of focus are:

Selling Price – The price the seller accepts for his or her house.
Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
List Price – The amount of money a home is listed on the market.
Median Price – The middle price of all the properties sold in the given time period.

28401 Zip Code

  •     The average selling price, of $143,278 has increased .4% from 3rd Quarter 2015 average selling price of $142,749.
  •     We had a decrease of 15.3% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $148,195 has decreased 1.4% from 3rd Quarter 2015 average list price of $150,336.
  •     The average number of days a property remained on the market for 3rd Quarter was 75 days, compared to 97 days for 3rd Quarter 2015.
  •     The median sold price of $124,000 for 3rd Quarter has decreased 1.6% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 96.7% of the asking price, an increase from 95% for 3rd Quarter 2015.

28403 Zip Code

  •     The average selling price, of $216,469 has decreased 5.7% from 3rd Quarter 2015 average selling price of $229,630.
  •     We had an increase of 31.9% in the number of homes sold in 3rd Quarter 2016. The best of all the Zip Codes.
  •     The average list price of $225,214 has decreased 6.6% from 3rd Quarter 2015 average list price of $241,045.
  •     The average number of days a property remained on the market for 3rd Quarter was 59 days, compared to 96 days for 3rd Quarter 2015.
  •     The median sold price of $188,050 for 3rd Quarter has increased 8.7% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 96.1% of the asking price, an increase from 95.3% for 3rd Quarter 2015.

28405 Zip Code

  •     The average selling price, of $308,984 has increased 6.3% from 3rd Quarter 2015 average selling price of $290,662.
  •     We had a decrease of 12.9% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $321,909 for 3rd Quarter 2016 has increased 6.3% from 3rd Quarter 2015 average list price of $302,972.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 71 days, compared to 88 days for 3rd Quarter 2015.
  •     The median sold price of $191,500 for 3rd Quarter 2016 has decreased 13.0% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 96.0% of the asking price, an increase from 95.9% for 3rd Quarter 2015.

28409 Zip Code

  •     The average selling price, of $311,517 has decreased .7% from 3rd Quarter 2015 average selling price of $313,658.
  •     We had a decrease of 1.8% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $318,398 for 3rd Quarter 2016 has decreased .9% over 3rd Quarter 2015 average list price of $321,312.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 68 days, compared to 90 days for 3rd Quarter 2015.
  •     The median sold price of $265,000 for 3rd Quarter 2016 has increased 1.5% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 97.8% of the asking price, an increase from 97.6% from 3rd Quarter 2015.

28411 Zip Code

  •     The average selling price, of $303,729 has increased 5.9% from 3rd Quarter 2015 average selling price of $286,923.
  •     We had a decrease of 3.4% in the number of homes sold in 3rd Quarter 2016
  •     The average list price of $309,972 for 3rd Quarter 2016 has increased 4.6% over 3rd Quarter 2015 average list price of $296,216.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 59 days, compared to 87 days for 3rd Quarter 2015.
  •     The median sold price of $248,450 for 3rd Quarter 2016 has increased by 4.8% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 98.0% of the asking price, an increase from 96.9% for 3rd Quarter 2015.

28412 Zip Code

  •     The average selling price, of $223,795 has increased 4.0% over 3rd Quarter 2015 average selling price of $215,257.
  •     We had an increase of 28.3% in the number of homes sold in 3rd Quarter 2016
  •     The average list price of $230,738 for 3rd Quarter 2016 has increased 4.7% over 3rd Quarter 2015 average list price of $220,367.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 60 days, compared to 75 days for 3rd Quarter 2015.
  •     The median sold price of $204,250 for 3rd Quarter 2016 has increased 10.1% from 3rd Quarter 2015. The best of all the Zip Codes.
  •     Sold homes in 3rd Quarter 2016 received 97.0% of the asking price, a decrease from 97.7% for 3rd Quarter 2015.

28451 Zip Code

  •     The average selling price, of $231,665 has increased .2% from 3rd Quarter 2015 average selling price of $231,311.
  •     We had an increase of 11.5% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $233,901 for 3rd Quarter 2016 has decreased .3% over 3rd Quarter 2015 average list price of $234,630.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 102 days, compared to 134 days for 3rd Quarter 2015.
  •     The median sold price of $205,000 for 3rd Quarter 2016 has decreased 3.1% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 99.0% of the asking price, an increase from 98.6% for 3rd Quarter 2015. The best of all the Zip Codes.


28480 Zip Code

  •     The average selling price, of $851,744 has increased .5% from 3rd Quarter 2015 average selling price of $847,696.
  •     We had an increase of 14.3% in the number of homes sold in 3rd Quarter 2016
  •     The average list price of $918,138 for 3rd Quarter 2016 has increased 1.4% over 3rd Quarter 2015 average list price of $905,618.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 135 days, compared to 163 days for 3rd Quarter 2015.
  •     The median sold price of $630,000 for 3rd Quarter 2016 has increased .4% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 92.8% of the asking price, a decrease from 93.6% for 3rd Quarter 2015.


28428 Zip Code

  •     The average selling price, of $286,690 has increased 10.2% from 3rd Quarter 2015 average selling price of $260,152.
  •     We had an increase of 14.1% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $297,179 for 3rd Quarter 2016 has increased 9.6% over 3rd Quarter 2015 average list price of $271,030.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 123 days, compared to 179 days for 3rd Quarter 2015.
        The best of all the Zip Codes.
  •     The median sold price of $260,000 for 3rd Quarter 2016 has increased 4.0% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 96.5% of the asking price, an increase from 96.0% for 3rd Quarter 2015.

28449 Zip Code

  •     The average selling price, of $460,478 has increased 29.5% from 3rd Quarter 2015 average selling price of $355,667. The best of all the Zip Codes.
  •     We had a decrease of 24.3% in the number of homes sold in 3rd Quarter 2016.
  •     The average list price of $473,660 for 3rd Quarter 2016 has increased 27.3% over 3rd Quarter 2015 average list price of $371,957.
        The best of all the Zip Codes.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 99 days, compared to 83 days for 3rd Quarter 2015.
  •     The median sold price of $362,500 for 3rd Quarter 2016 has increased 3.6% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 97.2% of the asking price, an increase from 95.6% for 3rd Quarter 2015.

28443 Zip Code

  •     The average selling price, of $265,142 has decreased .9%     over 3rd Quarter 2015 average selling price of $267,584.
  •     We had an increase of 5.5% in the number of homes sold in 3rd Quarter 2016
  •     The average list price of $268,527 for 3rd Quarter 2016 has decreased 1.0% over 3rd Quarter 2015 average list price of $271,356.
  •     The average number of days a property remained on the market for 3rd Quarter 2016 was 99 days, compared to 104 days for 3rd Quarter 2015.
  •     The median sold price of $251,500 for 3rd Quarter 2016 has increased 1.8% from 3rd Quarter 2015.
  •     Sold homes in 3rd Quarter 2016 received 98.7% of the asking price, an increase from 98.6% for 3rd Quarter 2015.

8 out of 11 zip codes reported an increase in the average sales price. 10 out of 11 zip codes have the List to Sales price ratio above 95%. A good sign that real estate is recovering is the sign that clients are getting closer to their asking price.

An Analysis of information from the Wilmington Regional Association of REALTORS Incorporated, for the period Jan. 1, 2005 through September 30, 2016 – data pulled on October 16, 2016.

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