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JULY 2016 Home Sales Statistics

WILMINGTON, N.C. (August 11, 2016) July 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:

“Our local real estate market (Jan-June 2016) continues the trend of increased units sold over the same period in 2015, with over 18% more properties sold.  Our median price continues a positive trend, increasing a respectful 2% increase.  Days on Market (DOM) is also showing positive trending, down over 13%, at an average of 100 days.  Mortgage rates are still incredibly affordable and lenders are making things happen for many buyers.”

One data statistic to note, which is not reflected below, is the number of new listings that came onto the market during July 2016. July 2016 saw only 900 new single family homes come onto the market. We haven’t seen this number drop below 901 in the month of July since 2012. This trend is reflective of the national housing market’s shrinking inventory is specific price ranges. Lawrence Yun, National Association of REALTORS® chief economist, says a faster pace of home sales amidst languishing inventory levels pushed home prices higher in most metro areas during the second quarter. “Steadily improving local job markets and mortgage rates teetering close to all-time lows brought buyers out in force in many large and middle-tier cities,” says Yun. Specifically, in the South, the median sales price rose 5.9 percent in the second quarter from the previous year.

Numbers to note:

 

Jan - July 2015

Jan - July 2016

% Change Jan-June

Total Units Sold

4315

5123

18.73%

Avg. Sales Price

$247,694

$246,268

-0.58%

Median Sales Price

$200,950

$205,100

2.07%

Days on Market

116

100

-13.33%

New Listings

7078

7212

1.89%

 

 

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