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October 2016 Home Sales Statistics

WILMINGTON, N.C. (November 11, 2016) October 2016 sales and listing data has been published by the Wilmington Regional Association of REALTORS® and is now available here.

 

http://www.wrar.com/home-sales-stats-buyers-and-sellers-menu/resid-mls-stats-buyers-and-sellers-menu.html

Don Harris, 2016 WRAR President responded to the data:

 

“The Wilmington area real estate market from January 2016 to October 2016 continues to show overall outstanding sales growth. We are seeing an increase of 17.19% in total units sold, up to 7412 units. The statistics show a commanding increase of 16.73% in total sales dollars, to $1,852,674,596. We’re also experiencing an impressive decrease in average days on market (DOM) with a 14.53% decrease, now 95 days.

We’re seeing steady growth in comparing October 2015 to October 2016, with the total units sold increasing 4.45% to 657 units, median sales price increased 10.54% to $215,000, total sales volume increasing 3.23% to $164,595,258 and days on market (DOM) with a 9.28% decrease, now 88 days.

Mortgage rates are at a historic low rate today; they may not stay low for long. Mortgage rates change quickly with the economy and are expected to start moving up, so now is the time for buyers to get off the fence.”

 

 

Numbers to note:

 

Jan - Oct 2015

Jan - Oct 2016

% Change Jan-Oct

Total Units Sold

6,325

7,412

17.19%

Avg. Sales Price

$277,358

$275,316

-0.74%

Median Sales Price

$225,975

$229,900

1.78%

Days on Market

112

95

-14.53%

New Listings

9,625

10,055

4.47%