You are here: Home Home Sales Statistics Zip Code Market Analyses Consumers Site Buyers and Sellers 3rd Quarter 2014 Real Estate Market Progress Report by Zip Code
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3rd Quarter 2014 Real Estate Market Progress Report by Zip Code

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

WILMINGTON, N.C. (October 22, 2014) – When analyzing eleven major zip codes in our region – 28401, 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes for the third quarter of 2014 shows that:

  • Our average sales price has increased by 6.9% from year-end 2013.
  • Of the 1,396 sellers in 3rd Quarter 2014 – 35.4% paid some sort of concession toward the purchase of the house.
  • Our list to sales price ratio for 3rd Quarter is 96.37%, an increase from 96.36% for year-end 2013.
  • The average list price of the sold properties is $278,941 and is up 6.9% from year-end 2013.
  • The average number of days a property remained on the market for the 3rd Quarter was 109 days, compared to 121 days for year-end 2013.
  • The median sold price of $220,000 for 3rd Quarter 2014 has increased 10% from year-end 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.

28401

  • The average selling price of $137,689 has increased 1.2% from year-end 2013 average selling price of $135,949.
  • 32% of sellers paid a concession in 2014, compared to 24% for year-end 2013.
  • The average list price of $148,844 has increased 2.9% from year-end 2013 average list price of $144,594.
  • The average number of days a property remained on the market for 3rd Quarter was 98 days, compared to 138 days for year-end 2013.
  • The median sold price of $110,000 for 3rd Quarter has increased 11.1% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 92.5% of the asking price, a decrease from 94.02% for year-end 2013.

28403

  • The average selling price of $232,687 has increased 14.0% from year-end 2013 average selling price of $204,046.
  • 28% of sellers paid a concession in 2014, compared to 25% for year-end 2013.
  • The average list price of $247,339 has increased 16.1% from year-end 2013 average list price of $213,052.
  • The average number of days a property remained on the market for 3rd Quarter was 127 days, compared to 116 days for year-end 2013.
  • The median sold price of $179,000 for 3rd Quarter has increased 4.1% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 94.0% of the asking price, a decrease from 95.77% for year-end 2013.

28405

  • The average selling price of $311,326 has increased 6.1% from year-end 2013 average selling price of $293,443.
  • 31% of sellers in 3rd Quarter paid a concession, compared to 23% for year-end 2013.
  • The average list price of $323,306 for 3rd Quarter 2014 has increased 5.2% from year-end 2013 average list price of $307,332.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 109 days, compared to 141 days for year-end 2013.
  • The median sold price of $198,000 for 3rd Quarter 2014 has increased 7.0% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 96.2% of the asking price, an increase from 95.48% for year-end 2013.

28409

  • The average selling price of $329,977 has increased 16.1% from year-end 2013 average selling price of $284,192.
  • 40% of sellers in 3rd Quarter 2014 paid a concession, compared to 26% for year-end 2013.
  • The average list price of $339,512 for 3rd Quarter 2014 has increased 12.3% over year-end 2013 average list price of $293,510.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 104 days, compared to 102 days for year-end 2013.
  • The median sold price of $265,790 for 3rd Quarter 2014 has increased 12.1% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 97.1% of the asking price, an increase from 96.83% from 2nd year-end 2013.

28411

  • The average selling price of $306,869 has increased 10.2% from year-end 2013 average selling price of $278,466.
  • 43% of sellers in 3rd Quarter 2014 paid a concession, compared to 33% in year-end 2013.
  • The average list price of $322,573 for 3rd Quarter 2014 has increased 11.4% over year-end 2013 average list price of $289,562.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 99 days, compared to 111 days for year-end 2013.
  • The median sold price of $229,500 for 3rd Quarter 2014 has increased by 6.8% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 95.1% of the asking price, a decrease from 96.1% for year-end 2013.

28412

  • The average selling price of $197,596 has increased 2.5% over year-end 2013 average selling price of $192,753.
  • 43% of sellers in 3rd Quarter 2014 paid a concession, compared to 28% for year-end 2013.
  • The average list price of $202,196 for 3rd Quarter 2014 has increased 2.8% over year-end 2013 average list price of $196,661.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 91 days, compared to 91 days for year-end 2013. The best of all zip codes.
  • The median sold price of $170,000 for 3rd Quarter 2014 has increased 2.2% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 97.72% of the asking price, a decrease from 98.01% for year-end 2013.

28451

  • The average selling price of $233,862 has increased 13.6% from year-end 2013 average selling price of $205,798.
  • 31% of sellers in 3rd Quarter 2014 paid a concession, compared to 26% for year-end 2013.
  • The average list price of $236,146 for 3rd Quarter 2014 has increased 13.0% over year-end 2013 average list price of $208,981.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 112 days, compared to 114 days for year-end 2013.
  • The median sold price of $230,000 for 3rd Quarter 2014 has increased 27.8% from year-end 2013. The best of all zip codes.
  • Sold homes in 3rd Quarter 2014 received 99.03% of the asking price, an increase from 98.48% for year-end 2013. The best of all zip codes.

28480

  • The average selling price of $662,893 has decreased 8.8% from year-end 2013 average selling price of $727,210.
  • 10% of sellers in 3rd Quarter 2014 paid a concession, compared to 8% in year-end 2013.
  • The average list price of $714,943 for 3rd Quarter 2014 has decreased 10.5% over year-end 2013 average list price of $799,085.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 181 days, compared to 254 days for year-end 2013.
  • The median sold price of $500,000 for 3rd Quarter 2014 has decreased 22.5% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 92.7% of the asking price, an increase from 91.01% for year-end 2013.

28428

  • The average selling price of $261,485 has increased .3% from year-end 2013 average selling price of $260,637.
  • 19% of sellers in 3rd Quarter 2014 paid a concession, compared to 18% for year-end 2013.
  • The average list price of $271,426 for 3rd Quarter 2014 has increased .3% over year-end 2013 average list price of $270,732.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 127 days, compared to 180 days for year-end 2013.
  • The median sold price of $223,000 for 3rd Quarter 2014 has decreased 7.0% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 96.3% of the asking price, an increase from 96.2% for year-end 2013.

28449

  • The average selling price of $327,053 has decreased 11.1% over year-end 2013 average selling price of $367,716.
  • 9% of sellers in 3rd Quarter 2014 paid a concession, compared to 8% for year-end 2013. The best of all zip codes.
  • The average list price of $341,400 for 3rd Quarter 2014 has decreased 11.0% over year-end 2013 average list price of $383,544.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 124 days, compared to 175 days for year-end 2013.
  • The median sold price of $307,125 for 3rd Quarter 2014 has increased 2.4% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 95.80% of the asking price, a decrease from 95.87% for year-end 2013.

28443

  • The average selling price of $283,955 has increased 21.0%     over year-end 2014 average selling price of $234,613. The best of all zip codes.
  • 48% of sellers in 3rd Quarter 2014 paid a concession, compared to 38% for year-end 2013.
  • The average list price of $292,854 for 3rd Quarter 2014 has increased 21.9% over year-end 2013 average list price of $240,303. The best of all zip codes.
  • The average number of days a property remained on the market for 3rd Quarter 2014 was 114 days, compared to 120 days for year-end 2013.
  • The median sold price of $248,000 for 3rd Quarter 2014 has increased 10.2% from year-end 2013.
  • Sold homes in 3rd Quarter 2014 received 96.96% of the asking price, a decrease from 97.63% for year-end 2013.

Nine out of the eleven zip codes reported an increase in the average sales price. Eight out of the eleven zip codes had the List to Sales price ratio above 95 percent. The fact that clients are getting closer to their asking price is a good sign that real estate is recovering.  

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 Incorporated, for the period January 1, 2005 through September 30, 2014 – data pulled on October 11, 2014.

 

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