You are here: Home Home Sales Statistics Zip Code Market Analyses Consumers Site Buyers and Sellers Second Quarter 2014 Progress Report by Zip Code
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Second Quarter 2014 Progress Report by Zip Code

Your Local Real Estate Market Analysis

By Jody Wainio, SFR, WHS
2014 President, Wilmington Regional Association of Realtors

WILMINGTON, N.C. (July 21, 2014) – When analyzing ten major zip codes in our region – 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes shows for the second quarter of 2014:

  • Our average sales price has increased by 5.7% from Second Quarter 2013
  • Of the 1,346 sellers in 2nd Quarter 2014 – 34.7% paid some sort of concession toward the purchase of the house.
  • Our list to sales price ratio for 2nd Quarter 2014 is 96.23% a decrease from 96.36% for 2nd Quarter 2013.
  • The average list price of the sold properties is $281,314 and is up 6.2% from 2nd Quarter 2013.
  • The average number of days a property remained on the market for the 2nd Quarter 2014 was 124 days, compared to 127 days for 2nd Quarter 2013.
  • The median sold price of $224,900 for 2nd Quarter 2014 has increased 9.7% from 2nd Quarter 2013.

The areas of focus in this analysis were:  

  • 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.

Zip Code 28403

  • The average selling price of $208,604 has increased 2.8% from 2nd Quarter 2013 average selling price of $202,991.
  • 32% of sellers paid a concession in 2nd Quarter 2014, compared to 29% for 2nd Quarter 2013.
  • The average list price of $219,373 has increased 3.5% from 2nd Quarter 2013 average list price of $211,913.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 116 days, compared to 112 days for 2nd Quarter 2013.
  • The median sold price of $176,950 for 2nd Quarter 2014 has increased 6.3% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 95.09% of the asking price, a decrease from 95.79% for 2nd Quarter 2013.

Zip Code 28405

  • The average selling price of $331,846 has increased 12.8% from 2nd Quarter 2013 average selling price of $294,077.
  • 28% of sellers in 2nd Quarter 2014 paid a concession, compared to 24% for 2nd Quarter 2013.
  • The average list price of $346,530 for 2nd Quarter 2014 has increased 12.0% from 2nd Quarter 2013 average list price of $309,453.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 130 days, compared to 155 days for 2nd Quarter 2013.
  • The median sold price of $229,384 for 2nd Quarter 2014 has increased 33.6% from 2nd Quarter 2013. The best of all zip codes.
  • Sold homes in 2nd Quarter 2014 received 95.76% of the asking price, an increase from 95.03% for 2nd Quarter 2013.

Zip Code 28409

  • The average selling price of $306,348 has increased 9.6% from 2nd Quarter 2013 average selling price of $279,443.
  • 40% of sellers in 2nd Quarter 2014 paid a concession, compared to 20% for 2nd Quarter 2013.
  • The average list price of $315,612 for 2nd Quarter 2014 has increased 9.4% over 2nd Quarter 2013 average list price of $288,442.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 124 days, compared to 107 days for 2nd Quarter 2013.
  • The median sold price of $269,900 for 2nd Quarter 2014 has increased 13.9% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 97.06% of the asking price, an increase from 96.88% from 2nd Quarter 2013.

Zip Code 28411

  • The average selling price of $271,933 has decreased 6.1% from 2nd Quarter 2013 average selling price of $289,742.
  • 41% of sellers in 2nd Quarter 2014 paid a concession, compared to 41% in 2nd Quarter 2013.
  • The average list price of $283,311 for 2nd Quarter 2014 has decreased 7.3% over 2nd Quarter 2013 average list price of $305,468.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 104 days, compared to 120 days for 2nd Quarter 2013. The best of all zip codes.
  • The median sold price of $214,900 for 2nd Quarter 2014 has decreased by 2.7% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 95.98% of the asking price, an increase from 94.85% for 2nd Quarter 2013.

Zip Code 28412

  • The average selling price of $185,409 has decreased .5% over 2nd Quarter 2013 average selling price of $186,312.
  • 44% of sellers in 2nd Quarter 2014 paid a concession, compared to 27% for 2nd Quarter 2013.
  • The average list price of $189,719 for 2nd Quarter 2014 has decreased .1% over 2nd Quarter 2013 average list price of $189,952.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 108 days, compared to 92 days for 2nd Quarter 2013.
  • The median sold price of $165,000 for 2nd Quarter 2014 has increased 2.8% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 97.73% of the asking price, a decrease from 98.08% for 2nd Quarter 2013.

Zip Code 28451

  • The average selling price of $223,523 has increased 11.2% from 2nd Quarter 2013 average selling price of $201,043.
  • 34% of sellers in 2nd Quarter 2014 paid a concession, compared to 31% for 2nd Quarter 2013.
  • The average list price of $225,138 for 2nd Quarter 2014 has increased 10.5% over 2nd Quarter 2013 average list price of $203,656.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 126 days, compared to 117 days for 2nd Quarter 2013.
  • The median sold price of $210,000 for 2nd Quarter 2014 has increased 18.6% from 2nd Quarter 2013.  
  • Sold homes in 2nd Quarter 2014 received 99.28% of the asking price, an increase from 98.72% for 2nd Quarter 2013. The best of all zip codes.

Zip Code 28480

  • The average selling price of $755,529 has increased 22.9% from 2nd Quarter 2013 average selling price of $614,841. The best of all zip codes.
  • 6% of sellers in 2nd Quarter 2014 paid a concession, compared to 8% in 2nd Quarter 2013. The best of all zip codes.
  • The average list price of $837,271 for 2nd Quarter 2014 has increased 27.1% over 2nd Quarter 2013 average list price of $658,605. The best of all zip codes.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 183 days, compared to 230 days for 2nd Quarter 2013.
  • The median sold price of $700,000 for 2nd Quarter 2014 has increased 18.6% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 90.2% of the asking price, a decrease from 93.3% for 2nd Quarter 2013.

Zip Code 28428

  • The average selling price of $264,032 has increased 2.2% from 2nd Quarter 2013 average selling price of $258,309.
  • 23% of sellers in 2nd Quarter 2014 paid a concession, compared to 20% for 2nd Quarter 2013.
  • The average list price of $274,700 for 2nd Quarter 2014 has increased 3.7% over 2nd Quarter 2013 average list price of $264,791.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 153 days, compared to 182 days for 2nd Quarter 2013.
  • The median sold price of $228,000 for 2nd Quarter 2014 has decreased 6.9% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 96.12% of the asking price, a decrease from 97.55% for 2nd Quarter 2013.

Zip Code 28449

  • The average selling price of $387,220 has increased 3.8% over 2nd Quarter 2013 average selling price of $373,224.
  • 9% of sellers in 2nd Quarter 2014 paid a concession, compared to 10% for 2nd Quarter 2013.
  • The average list price of $405,659 for 2nd Quarter 2014 has increased 4.7% over 2nd Quarter 2013 average list price of $387,438.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 155 days, compared to 180 days for 2nd Quarter 2013.
  • The median sold price of $345,000 for 2nd Quarter 2014 has increased 6.2% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 95.4% of the asking price, a decrease from 96.3% for 2nd Quarter 2013.

Zip Code 28443

  • The average selling price of $259,557 has increased 6.3%     over 2nd Quarter 2013 average selling price of $228,689.
  • 39% of sellers in 2nd Quarter 2014 paid a concession, compared to 38% for 2nd Quarter 2013.
  • The average list price of $269,246 for 2nd Quarter 2014 has increased 7.9% over 2nd Quarter 2013 average list price of $249,436.
  • The average number of days a property remained on the market for 2nd Quarter 2014 was 130 days, compared to 134 days for 2nd Quarter 2013.
  • The median sold price of $245,000 for 2nd Quarter 2014 has increased 8.4% from 2nd Quarter 2013.
  • Sold homes in 2nd Quarter 2014 received 96.40% of the asking price, a decrease from 97.89% for 2nd Quarter 2013.

Eight out of ten zip codes reported an increase in the average sales price. Nine out of ten 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.

For more market data that covers our entire MLS, please Click Here. Take advantage of these exceptional opportunities to invest in the American Dream of homeownership. Contact a Realtor today!

*An analysis of information from the Wilmington Regional Association of Realtors Inc., for the period Jan. 1, 2005 through June 30, 2014 – data pulled on July 13, 2014.

As the Wilmington region’s voice of real estate, the Wilmington Regional Association of Realtors (WRAR) strives to protect the private property rights for local real estate consumers while enhancing the individual and corporate careers of its members. For further information on this topic and others, please visit www.wrar.com or contact a Realtor in your area today.

 

You are here: Home Home Sales Statistics Zip Code Market Analyses Consumers Site Buyers and Sellers Second Quarter 2014 Progress Report by Zip Code